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DBS Targets S$1 Trillion Wealth Assets by 2030, Adds 600 Staff
This article first appeared on GuruFocus. DBS Group Holdings Ltd. (DBSDY), Singapore's largest lender, is aiming to increase its wealth and retail assets to more than S$1 trillion ($775 billion) by 2030 as it accelerates its expansion across major Asian markets. The bank would need to grow those assets from S$632 billion at the end of 2025, a target that could move DBS closer to global wealth-management firms UBS Group AG (NYSE:UBS), Morgan Stanley (NYSE:MS) and JPMorgan Chase & Co. (NYSE:JPM), which each oversee more than $1 trillion in client funds. DBS is pursuing a wider customer base than traditional private banks, including everyday millionaires and less affluent investors across emerging Asian markets. Analysts have said the bank may also benefit as China's tighter controls on capital outflows encourage wealthy regional clients to favor Singapore over Hong Kong. Warning! GuruFocus has detected 10 Warning Signs with DBSDY. Is DBSDY fairly valued? Test your thesis with our free DCF calculator. DBS plans to hire at least 600 relationship managers and platform engineers by the end of 2028, open 18 new wealth centers and upgrade 36 existing locations across Singapore, Hong Kong and mainland China. Shee Tse Koon, the bank's group head of consumer banking and wealth management, described the expansion as possibly the largest physical wealth buildout undertaken by an Asian bank. DBS said 58% of its wealth assets are actively invested in financial products, which represents a record level for the bank, while return on equity at its private-banking division is above 70%. Wealth assets have also been growing at double-digit rates even though relationship-manager headcount increased only at a single-digit pace over the past several years, suggesting the business has been generating strong productivity. DBS is also preparing to launch a redesigned AI-powered wealth platform in mid-August that will provide mass-market customers with personalized investment recommendations, chatbot support and the ability to execute trades without human involvement after giving consent. Oversea-Chinese Banking Corp., a Singapore-based lender, has separately announced plans to increase annual technology spending above S$1 billion, hire 600 additional relationship managers and introduce an AI-powered avatar banking app within a year. United Overseas Bank Ltd., another Singapore-based lender, is also benefiting from the city-state's growing position as a global wealth hub. With Singapore encouraging banks to invest in artificial intelligence and retrain employees, investors may view DBS's hiring, wealth-center expansion and automated investment platform as an effort to capture a larger share of Asia's expanding wealth-management market. View Comments
ProVen Growth and Income VCT plc: Interim Management Statement
ProVen Growth and Income VCT plc Interim Management Statement for the three months ended 31 May 2026 ProVen Growth and Income VCT plc (the “Company”) presents an Interim Management Statement for the three-month period ended 31 May 2026. The statement also includes relevant financial information between the end of the period and the date of this announcement. Performance UnauditedAudited 31 May28 Feb 20262026 PencePenceNet Asset Value per share (“NAV”) 47.647.5Dividends paid to date (originally as "C" Shares)* 83.9083.90Total Return (NAV plus dividends paid since "C" Share class launch) 131.50131.40 * Dividends paid represents dividends paid in respect of the original "C" Shares between their launch in 2006 up until their conversion in 2009 and as Ordinary Shares since the "C" Share conversion. "C" Shares were converted into Ordinary Shares on a one for one basis in 2009. Dividends paid or declared On 3 June 2026, the Company announced a final dividend for the year ended 28 February 2026 of 1.3p per share. This dividend will be paid on 14 August 2026 to Shareholders on the register at 17 July 2026. Payment of this dividend will reduce the NAV per share as shown above to 46.3p and increase dividends paid to date to 85.2p per share. Investment portfolio summary at 31 May 2026 Portfolio summary CostValuation £'000£'000Venture capital investments Picasso Labs, Inc. (t/a CreativeX) 4,54612,924MPB Group Limited 1,1948,100Dash Brands Ltd 3,2827,250Gorillini NV (t/a Gorilla) 2,8867,121Papier Ltd 4,7036,980Luxury Promise Limited 6,0206,243Social Value Portal Ltd 2,6605,919Utilis Israel Ltd (t/a Asterra) 2,1445,216Litta App Limited 2,0535,158Infinity Reliance Limited (t/a My 1st Years) 2,7695,011Other venture capital investments 81,12952,111Total venture capital investments 113,386122,033Cash at bank and in hand 34,751Other net current assets 2,647Net assets 159,431 Unquoted investments are valued at fair values established using the International Private Equity and Venture Capital Valuation Guidelines. Investment activity during the three-month period ended 31 May 2026 Investment additions CostVenture capital investments £’000Mothership Drinks Ltd (t/a MOTH) 1,043Total 1,043 Investment disposals Market value atDisposalGain againstRealised gain / Cost1 March 2026ProceedsCost(loss) in period £’000£’000£’000£’000£’000Access Systems, Inc. (t/a AccessPay)1,7832,6602,6678847Total1,7832,6602,6678847 Investment activity from 1 June 2026 to the date of this announcement In the period from 1 June 2026 to the date of this announcement, a new investment was made in Checkboard Limited (t/a Kord) at cost of £1,068,000. In the period from 1 June 2026 to the date of this announcement, Dryden Holdings Limited (an investee company 100% owned by the Company) was fully disposed of, realising £nil of proceeds for the Company. Changes to share capital Ordinary Shares of 1.6187p each As at 1 March 2026 321,673,772Shares bought back during the 3 months to 31 May 2026 -Shares issued during the 3 months to 31 May 2026 13,506,644 As at 31 May 2026 335,180,416 In the period from 1 June 2026 to the date of this announcement, 498,642 Ordinary Shares were issued on 3 July 2026 pursuant to the offer for subscription that opened on 17 November 2025 and were allotted at an average price of 49.08p, based on the net asset value of 47.5p per Ordinary Share, being the net asset value as at 28 February 2026. In the period from 1 June 2026 to the date of this announcement, 6,165,285 Ordinary Shares were repurchased and subsequently cancelled. Material events Other than the matters described above, there were no material events during the period from 1 March 2026 to 31 May 2026 or in the period from 1 June 2026 to the date of this announcement. Further information Further information regarding the Company can be found on the Company's website: www.proveninvestments.co.uk or by contacting Beringea, the Investment Manager at info@beringea.co.uk or by telephone 020 7845 7820. Beringea LLP Company Secretary Telephone 020 7845 7820 -End
Stocks making the biggest moves midday: SpaceX, Apple, PayPal, Cava, Progressive, Micron & more
Check out the companies making the biggest moves in midday trading: SpaceX — Shares of the rocket maker fell for the fourth-straight session, dipping below its $135 initial public offering price for the first time. Apple , Alibaba and Baidu — Apple shares rose about 4% to a fresh high after its Apple Intelligence cleared a major regulatory hurdle in China, which will allow the service to be used on iPhones in the country. No launch date is set yet, but the news also lifted shares of Alibaba and Baidu, which will partner with Apple on the effort. Alibaba gained 5%, while Baidu added 2%. Memory stocks — The group was pulling back in midday trading Wednesday after big gains in the prior session. Micron , Seagate and Western Digital shares each fell around 8%, while Sandisk tumbled more than 11%. The move comes amid some speculation that competition with Chinese memory chipmakers could be poised to intensify. These fears were stoked by reports that rival ChangXin Memory Technologies , also known as CXMT, is seeing strong demand for its Shanghai listing. Cava — Shares of the fast-casual food chain climbed 5.5% following an upgrade to overweight from equal weight by Morgan Stanley. The bank said Cava has a "defensible" valuation and is "one of the strongest fundamental stories in restaurants." Lionsgate — The movie studio's stock jumped more than 6% after Reuters reported , citing three people familiar with the matter, that Lionsgate is exploring a sale and has seen some interest from France's Bollore Group. The report also said Banijay Group is a potential suitor as well. Insurance stocks — Shares of Progressive fell more than 7% after the insurer reported a 31% drop in income in June versus a year ago. Progressive also saw a steep increase in its combined ratio last month, as it rose to 90% from 86.6% a year ago. Other insurance stocks were down in sympathy, including Allstate , which fell 4%; AON , which slipped less than 1%; and Travelers , which fell almost 2%. Lucid Group — Shares rebounded 19% after the electric vehicle maker denied reports that it is considering filing for bankruptcy court protection or exploring a take-private transaction. Management said it has sufficient liquidity to fund its operation into next year and called the reports "completely false." BlackRock — The investment management company jumped more than 7% after it reported better-than-expected earnings. BlackRock delivered adjusted earnings of $13.91 per share, topping an LSEG estimate of $12.59 per share. Revenue also beat estimates. Pentair — Shares tumbled more than 17% after the water-treatment equipment maker issued preliminary second-quarter results that missed Wall Street expectations. The company said it expects adjusted earnings of $1.12 a share, well below the $1.48 analysts were expecting, according to FactSet. Morgan Stanley — Shares were up up slightly after the bank delivered record quarterly revenue and profits in the second quarter. Earnings came in at $3.46 per share compared with analyst expectations for $2.94. PayPal — The digital payments platform surged 17% after Reuters reported that payments firm Stripe and private equity company Advent offered to buy PayPal for $53 billion. Citing two people familiar with the matter, Reuters said the deal would price PayPal at $60.50 per share, and that the offer was submitted earlier this month. Elevance Health — The stock tumbled 10% despite Elevance Health reporting revenue for the second quarter that was above consensus estimates. Elevance also raised its full-year earnings guidance, which came in slightly above expectations. Bank of New York Mellon — Shares rose nearly 3% after the bank reported an earnings and revenue beat in the second quarter. It also expects revenue to now grow double-digits in 2026, but the bank also sees greater expenses than previously anticipated. — CNBC's Alex Harring and Fred Imbert contributed reporting
SKAGI: Uppgjör Skaga á 2. ársfjórðungi 2026
15. júlí 2026 Tryggingarekstur áfram sterkur Erfitt árferði á mörkuðum litar afkomu af fjármálastarfsemi og fjárfestingum Afkoma 2F og 1H 2026 hjá samstæðu Skaga hf. Helstu lykiltölur 2F 2026 Samstæðan Hagnaður samstæðu fyrir skatta nam 1.037 m.kr. (2F 2025: 1.267 m.kr.) og eftir skatta nam hagnaður ársfjórðungsins 731 m.kr. (2F 2025: 972 m.kr.).Hagnaður af grunnrekstri fyrir skatta nam 1.181 m.kr. (2F 2025: 1.330 m.kr.).Hagnaður á hlut nam 0,39 kr. á ársfjórðungnum (2F 2025: 0,51 kr.).Arðsemi eigin fjár er 12,9% á ársgrundvelli (2F 2025: 18,4%) og gjaldþol samstæðu var 1,3 í lok tímabilsins (2F 2025: 1,28).Eigið fé samstæðu nam 22.558 m.kr. við lok tímabilsins. Tryggingastarfsemi Vöxtur tekna af vátryggingarsamningum var 7,3% og afkoma vátryggingarsamninga nam 1.446 m.kr. (2F 2025: vöxtur 8,9% og afkoma 1.499 m.kr.).Kostnaðarhlutfall í tryggingastarfsemi var 18,0% (2F 2025: 18,4%).Samsett hlutfall var 82,8% (2F 2025: 80,9%). Fjármálastarfsemi Hreinar tekjur af fjármálastarfsemi námu 666 m.kr. (2F 2025: 732 m.kr.) sem er 9% samdráttur á milli ára, en afkoma af fjármálastarfsemi var neikvæð um 95 m.kr. fyrir skatta (2F 2025: 6 m.kr.).Eignir í stýringu (e. AuM) stóðu í 251 ma.kr. við lok tímabilsins og var óbreytt á milli ársfjórðunga. Fjárfestingar Fjárfestingartekjur námu 396 m.kr. (2F 2025: 509 m.kr.) sem samsvarar 0,8% ávöxtun.Hreinar tekjur af fjárfestingum voru neikvæðar um 144 m.kr. (2F 2025: -63 m.kr.). Helstu lykiltölur 1H 2026 Hagnaður samstæðu fyrir skatta nam 704 m.kr. (1H 2025: -104 m.kr.) og eftir skatta nam hagnaður fyrri árshelmings 395 m.kr. (1H 2025: -380 m.kr.).Hagnaður af grunnrekstri fyrir skatta nam 1.100 m.kr. (1H 2025: 1.046 m.kr.).Vöxtur tekna af vátryggingarsamningum nam 7,1% og afkoma af vátryggingarsamningum nam 1.584 m.kr. (1H 2025: 1.449 m.kr.) sem samsvarar 135 m.kr. afkomubata á milli ára.Kostnaðarhlutfall í tryggingastarfsemi var 18,5% (1H 2025: 18,8%).Samsett hlutfall var 90,4% (1H 2025: 90,6%).Hreinar tekjur af fjármálastarfsemi námu 1.380 m.kr. (1H 2025: 1.512 m.kr.) og lækkuðu um 9% á milli ára.Fjárfestingartekjur námu 762 m.kr. (1H 2025: -13 m.kr.) en hreinar fjárfestingartekjur voru neikvæðar um 396 m.kr. (1H 2025: -1.150 m.kr.). Haraldur I. Þórðarson, forstjóri: „Rekstur samstæðunnar á öðrum ársfjórðungi einkenndist af góðum árangri í bland við áskoranir. Afkoma af grunnrekstri dróst lítillega saman frá fyrra ári þrátt fyrir áframhaldandi góðan takt í tryggingastarfseminni þar sem neikvæð afkoma af fjármálastarfseminni á tímabilinu vó þar á móti. Á ársfjórðungnum komu skipulagsbreytingar til framkvæmda í kjölfar stefnurýni félagsins, þar sem áhersla er lögð á einföldun og kostnaðarhagræði. Hagræðingaraðgerðir þeim tengdar höfðu í för með sér nokkurn kostnað sem gjaldfærður var að fullu á tímabilinu. Horft fram á veginn skila þessar aðgerðir sér í lægri kostnaði sem nemur um 300 m.kr. á ársgrundvelli og leggja grunn að auknu hagræði af rekstri samstæðunnar. Afkoma fjárfestinga var undir markmiðum og viðmiði á ársfjórðungnum sem skýrist að mestu af neikvæðri ávöxtun bæði skráðra og óskráðra hlutabréfa. Afkoma af tryggingastarfsemi var áfram sterk á öðrum ársfjórðungi og á fyrri helming ársins var samsett hlutfall það lægsta síðan árið 2007. Þessi árangur endurspeglar öflugan undirliggjandi rekstur, góðan og arðbæran iðgjaldavöxt og markvissa áherslu á rekstrahagkvæmni. Þá voru einnig jákvæðar matsbreytingar vegna hagstæðrar þróunar fyrri ára. Horfur félagsins hafa verið uppfærðar í kjölfar betri þróunar en áður var gert ráð fyrir. Tekjuvöxtur hefur verið kröftugur síðustu ár og hefur viðskiptavinum VÍS fjölgað jafnt og þétt. Þá hafa allir helstu þjónustu- og ánægjumælikvarðar þróast í rétta átt en VÍS leggur ríka áherslu á framúrskarandi þjónustu og að styrkja enn frekar tengslin við viðskiptavini um allt land. Þessi árangur staðfestir enn og aftur að sú stefna sem félagið hefur markað er að skila árangri. Fjárfestingartekjur námu 396 m.kr. á ársfjórðungnum sem jafngildir 0,8% ávöxtun fjárfestingasafns samanborið við 1,4% hækkun viðmiðunarvísitölu. Skuldabréf skiluðu 685 m.kr. en þar munar mest um ávöxtun fyrirtækjaskuldabréfa. Óskráð hlutabréf drógu niður afkomu ársfjórðungsins en eignaflokkurinn lækkaði um 220 m.kr. eða 3,1%. Virði eignarhlutar í Annata lækkaði að fjárhæð 286 m.kr., en eignarhlutur félagsins er í gegnum sjóði á vegum VEX og lækkaði rekstrarfélagið virðismat á félaginu á ársfjórðungnum. Skráð hlutabréf skiluðu neikvæðri afkomu að fjárhæð 89 m.kr. eða -1,2% ávöxtun en þar hafði lækkun á virði Oculis mest áhrif á afkomu skráðra hlutabréfa eða samtals 356 m.kr. á öðrum ársfjórðungi. Á fyrri hluta ársins námu fjárfestingartekjur 762 m.kr. eða 1,5% ávöxtun samanborið við 0,6% ávöxtun viðmiðunarvísitölu. Afkoma fjárfestinga, að teknu tilliti til fjármagnsliða vátrygginga, var neikvæð um 396 m.kr. á fyrri hluta ársins. Áfram var dregið úr vægi hlutabréfa en í lok tímabilsins nam vægi hlutabréfa 27% en skuldabréfa 73%. Annar ársfjórðungur var undir væntingum í fjármálastarfseminni, og drógust tekjur saman um tæplega 9% frá sama tímabili árið áður. Samdrátturinn skýrist einkum af lægri þóknanatekjum hjá Fossum í markaðsviðskiptum og fyrirtækjaráðgjöf ásamt neikvæðum fjármunatekjum. Horfur varðandi tekjur í fjármálastarfsemi fyrir árið hafa verið uppfærðar í ljósi þessarar þróunar. Afkoma Fossa var neikvæð um 146 m.kr. eftir skatt á öðrum ársfjórðungi. Auk samdráttar í þóknanatekjum skýrist afkoman af kostnaði vegna forstjóraskipta og starfsmannabreytinga að fjárhæð 75 m.kr., auk neikvæðrar þróunar fjármunatekna. Á ársfjórðungnum jukust tekjur Íslenskra verðbréfa um 35% frá fyrra ári og var afkoma félagsins 55 m.kr. eftir skatt. Tekjur félagsins námu 499 m.kr. á fyrri helmingi ársins og jukust um 24% frá fyrra ári. Afkoma Íslenskra verðbréfa var 37 m.kr. eftir skatt á fyrri árshelmingi samanborið við 18 m.kr. tap eftir skatt á sama tímabili í fyrra. Eignir í stýringu í fjármálastarfsemi námu 251 ma.kr. sem samsvarar 8,3% vexti á milli ára. Á fyrri helmingi ársins skilaði félagið hluthöfum samtals um 1.792 m.kr. í gegnum endurkaup eigin bréfa og arðgreiðslur. Þrátt fyrir þessar útgreiðslur er eiginfjárstaða félagsins áfram sterk og gjaldþolshlutfall samstæðu um 1,3 í lok tímabilsins, að teknu tilliti til fyrirséðra arðgreiðslna samkvæmt arðgreiðslustefnu. Félagið býr því áfram yfir sterkri eiginfjárstöðu sem styður við áform um framtíðarvöxt og áframhaldandi arðsemi.” Uppfærðar horfur í rekstri Skaga Rekstrarhorfur Skaga fyrir árið 2026 voru settar fram í upphafi árs en uppfærðar þann 10. júlí sl. Rekstrarhorfur eru nú sem hér segir1: Afkoma í tryggingastarfsemi: Samsett hlutfall á bilinu 90 – 93%. Markmið 2.900 milljónir.Fjárfestingartekjur: Áætluð ávöxtun fjárfestingareigna3 á árinu er 9,5% en það er byggt á forsendum vaxtastigs í upphafi árs og fjárfestingarstefnu. Kynningarfundur Kynningarfundur vegna uppgjörsins verður haldinn miðvikudaginn 15. júlí, klukkan 16:00 í höfuðstöðvum félagsins í Ármúla 3, Reykjavík. Haraldur I. Þórðarson, forstjóri Skaga, mun kynna uppgjörið. Hægt verður að fylgjast með fundinum í beinu streymi og nálgast má upptöku af honum á fjárfestasíðu félagsins. Þar verður einnig hægt að nálgast kynningarefni fundarins. Nánari upplýsingar Nánari upplýsingar veitir Haraldur I. Þórðarson, forstjóri Skaga, í netfanginu haraldur@skagi.is. 1 Upplýst verður um afkomuhorfur í trygginga- og fjármálastarfsemi ef þær breytast frá þeim vikmörkum sem kynntar eru. 2 Hreinar fjármálatekjur eru allar tekjur í fjármálastarfsemi, þ.m.t. hreinar vaxta- og þóknanatekjur, fjármunatekjur og aðrar tekjur. 3 Um er að ræða áætlaða ávöxtun fjárfestingareigna VÍS. Ekki verður upplýst um frávik frá áætlaðri ávöxtun fjárfestingareigna. Félagið birtir upplýsingar um stærstu eignir í fjárfestingarstarfsemi í fjárfestakynningum ársfjórðungslega. Hafa skal í huga að heildarstærð fjárfestingarsafnsins getur tekið breytingum vegna verðbreytinga, arðgreiðslna, endurkaupa, tilfærslu á ráðstöfun fjármagns innan samstæðu o.fl. Viðhengi Q2 2026 - Fréttatilkynning SkagaQ2 2026 - Fjárfestakynning SkagaÁrshlutareikningur samstæðu Skaga 30.6.2026
Goldman Sachs sends a confident signal
A dividend is one of the few promises a company cannot quietly fake. Guidance gets walked back. Buybacks get paused the moment a quarter turns ugly. But a cash payment wired to shareholders every 90 days is a firm putting real money behind its own story, quarter after quarter, with nowhere to hide. That is why the least glamorous line on a bank's balance sheet often tells you the most. Every summer, the biggest U.S. banks run the same gauntlet. The Federal Reserve drops them into a hypothetical recession, models the damage, and the ones left standing earn the right to hand capital back to shareholders. In most years, the exercise reads as a formality, and this year, with the market near records and artificial intelligence spending hogging every headline, it barely registered. Investors have been trained to obsess over earnings beats, analyst price targets, and the timing of the next rate cut. The quarterly dividend rarely makes anyone's watchlist. Which is exactly why Goldman Sachs (GS) deserves a second look right now. After clearing the Fed's 2026 stress test, the bank said it intends to raise its quarterly common dividend from $4.50 to $5 a share beginning July 1, an 11% bump and a 25% jump from a year earlier, according to the firm.Goldman Sachs lifts its quarterly dividend from $4.50 to $5.00.PixeloneStocker / Getty Images What Goldman Sachs actually announced on its dividend The trigger was the Fed's Comprehensive Capital Analysis and Review, known as CCAR. On June 24, the bank confirmed it remains well capitalized across a wide range of economic scenarios, with its stress capital buffer holding at 3.4% through September 2027, according to the firm. That buffer is the cushion regulators force a bank to hold against a modeled crisis. A steady buffer means the Fed sees no new cracks, which frees management to send more cash out the door rather than stockpile it. More Wall Street: Wall Street's $200 billion IPO wave threatens sell-off Goldman bans the very bets JPMorgan wants to sell Wall Street sends strong 4-word verdict on the stock market With that box checked, Goldman moved. The firm said the increase takes effect July 1 and still needs a rubber stamp from its board at the scheduled third-quarter meeting, according to the firm. Put the numbers in plain English. Goldman paid $2.50 a share each quarter back in 2022, according to the firm's filings. The new rate is $5.00. It paid $4.00 a quarter as recently as the summer of 2025 before this latest step, according to a separate filing. When I traced the payout back through those disclosures, the pattern was hard to miss. The dividend has doubled in four years, and Goldman has now raised it for 15 straight years, according to dividend tracker Koyfin. Story Continues Related: Goldman Sachs drops new warning on interest rate hikes Why the Fed stress test matters for bank dividends Goldman was not alone. The 2026 stress test cleared all 32 large banks, and the industry responded by opening the spigot. Here is how the biggest names moved after the results landed, according to CNBC: JPMorgan Chase (JPM) raised its quarterly dividend 10% to $1.65 a share and authorized a fresh $50 billion buyback. Morgan Stanley (MS) lifted its payout 15% to $1.15 a share and reauthorized a $20 billion repurchase program. Wells Fargo (WFC) said it expects to raise its dividend 11% to 50 cents a share. Goldman Sachs raised its dividend 11% to $5.00 a share, citing its earnings and capital strength. The stress test matters because it is the gate. No large bank can meaningfully lift a dividend without the Fed's blessing, so the June results function as Wall Street's annual permission slip. When every major lender walks through it at once and immediately hikes, that is the industry telling you it sees clear skies, not storm clouds. The scale is easy to underestimate. The group was modeled absorbing roughly $708 billion in losses in the hypothetical downturn and still stayed above its minimums, according to TheStreet's reporting. That is the backdrop that let boards move so fast. What a $5 quarterly dividend means for your income Here is where the abstract turns concrete. A $5 quarterly dividend works out to $20 a year for every share you own. Hold 100 shares of Goldman, and that is $2,000 in annual dividend income, up from roughly $1,000 at the 2022 rate. Hold 500 shares in a retirement account, and you are looking at $10,000 a year in cash that arrives whether the stock climbs or slumps. That is the quiet power of a rising dividend. It pays you to wait. For an income investor who reinvests, a payout that doubles every few years compounds into something that can eventually rival the paycheck it was meant to supplement. The catch is price. Goldman has run hard, and at recent levels, the yield still sits under 2%, which means you are buying a growing stream, not a fat one today. My read is that this is a stock that rewards patience and reinvestment, not a name to chase for immediate income. For younger savers, that distinction matters more than the headline number. A sub-2% yield that grows at a double-digit clip can, over 20 years, hand you a yield on your original cost that no savings account will touch. What Goldman's payout signals for the rest of 2026 The dividend is not really the story. The confidence behind it is. Goldman only commits to a bigger permanent payout when management believes the earnings can support it for years, not quarters. The bank has kept its crown as the top merger adviser and is sitting on its deepest deal backlog in four years, which points to a heavy pipeline of fee revenue as those transactions close. None of that erases the risks. Goldman's fortunes swing with market activity, and a sharp downturn would hit its trading and banking engines fast. The AI-fueled rally that has lifted almost everything could reverse just as quickly. Still, when a bank that lives and dies by market cycles chooses to double its dividend across four years and clear the Fed without breaking stride, it is placing a bet in public. Income investors will not get another read this clean until the fall. The next test comes with third-quarter earnings, when Goldman has to show the profits that make a $5 payout look conservative rather than brave. Related: Does Meta pay dividends? Its yield and payouts explained This story was originally published by TheStreet on Jul 15, 2026, where it first appeared in the Investing section. 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Watch Fed Chairman Kevin Warsh testify live before Senate banking committee
[The stream is slated to start at 10 a.m. ET. CNBC Television will start the stream when the event begins. Please refresh the page if you do not see a player above.] Federal Reserve Chairman Kevin Warsh testifies Wednesday before the Senate Banking Committee, facing questions over the the economy and how various factors might impact interest rates. Part of congressionally mandated Capitol Hill appearances for the central bank leader, Warsh spoke Tuesday to the House Financial Services Committee. During his remarks, he reaffirmed the Fed's commitment to fighting inflation though he gave few clues about the direction of monetary policy. Legislators tried baiting Warsh into commenting on fiscal and political matters, but he largely avoided the topics, stressing the importance of the Fed staying focused on its assigned responsibilities. Read more: Warsh pledges Fed policy 'regime change' to rid inflation 'tax' on American people Kevin Warsh names members of his Federal Reserve task forces, including Marc Andreessen, Doug McMillon Fed meeting minutes to show 'family fight' over rates. The squabble could drag on for a while Subscribe to CNBC on YouTube. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
‘Arsenal of democracy’: Jamie Dimon announces $24 million effort to boost American shipbuilding
JPMorgan Chase CEO Jamie Dimon on Wednesday announced a $24 million effort to help revive American shipbuilding, his latest move under the bank's $1.5 trillion security project aimed at bolstering industries critical to U.S. economic and national security. The figure includes $18 million in loans and $6 million in grants to finance a new submarine manufacturing facility at the Philadelphia Navy Yard being built by Rhoads Industries, expand lending to maritime-related small businesses and strengthen regional suppliers, JPMorgan said. "The arsenal of democracy has been reignited," Dimon told CNBC's Andrew Ross Sorkin. "People said it couldn't happen, but here you have Hanwha shipbuilding at the Philadelphia Navy Yard," Dimon said, naming a South Korean conglomerate with a U.S. vessel-making subsidiary. The announcement comes as rising geopolitical tensions, including wars in the Middle East and Ukraine, spur governments to rearm and reinvest in domestic industrial capacity. Last year, JPMorgan launched a $1.5 trillion initiative to finance sectors it considers critical to U.S. economic and national security, including shipbuilding. The firm announced an expansion of the program into Europe this year. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
3 Growth Stocks with Questionable Fundamentals
3 Growth Stocks with Questionable Fundamentals Growth is a hallmark of all great companies, but the laws of gravity eventually take hold. Those who rode the COVID boom and ensuing tech selloff in 2022 will surely remember that the market's punishment can be swift and severe when trajectories fall. Deciphering which businesses can sustain their high growth rates is a challenge for even the most seasoned professionals, which is why we started StockStory. Keeping that in mind, here are three growth stocks facing an uphill battle and some other opportunities you should consider instead. Aflac (AFL) One-Year Revenue Growth: +24.9% Known for its iconic duck mascot that has quacked "Aflac!" in commercials since 2000, Aflac (NYSE:AFL) provides supplemental health and life insurance policies that pay cash benefits directly to policyholders for expenses not covered by their primary insurance. Why Do We Avoid AFL? 6.2% annual declines in net premiums earned for the past five years indicates policy sales struggled this cycle Projected book value per share decline of 4.8% for the next 12 months points to tough credit quality challenges ahead High debt-to-equity ratio of 1.9× shows the firm carries too much debt relative to shareholder equity, increasing bankruptcy risk Aflac is trading at $121.82 per share, or 2.1x forward P/B. If you're considering AFL for your portfolio, see our FREE research report to learn more. Columbia Financial (CLBK) One-Year Revenue Growth: +46.5% Founded during the Roaring Twenties in 1926 and headquartered in Fair Lawn, New Jersey, Columbia Financial (NASDAQ:CLBK) operates federally chartered savings banks in New Jersey that offer traditional banking services including loans, deposits, and insurance products. Why Do We Think CLBK Will Underperform? Net interest income was flat over the last five years, indicating it's failed to expand this cycle Net interest margin of 2.1% is well below other banks, signaling its loans aren't very profitable Performance over the past five years shows each sale was less profitable, as its earnings per share fell by 3.8% annually Columbia Financial's stock price of $21.39 implies a valuation ratio of 1.8x forward P/B. Check out our free in-depth research report to learn more about why CLBK doesn't pass our bar. Washington Trust Bancorp (WASH) One-Year Revenue Growth: +15.6% Founded in 1800 and operating as Rhode Island's oldest community bank, Washington Trust Bancorp (NASDAQ:WASH) is a regional bank holding company offering commercial banking, mortgage lending, personal banking, and wealth management services. Story Continues Why Is WASH Risky? 4.3% annual net interest income growth over the last five years was slower than its banking peers Net interest margin of 2.3% reflects its high servicing and capital costs Earnings per share fell by 9.6% annually over the last five years while its revenue was flat, showing each sale was less profitable At $35.83 per share, Washington Trust Bancorp trades at 1.2x forward P/B. Read our free research report to see why you should think twice about including WASH in your portfolio, it's free. High-Quality Stocks for All Market Conditions ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it's flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+271% between June 2020 and June 2025). Find your next big winner with StockStory today. View Comments
Warren Buffett on the market today: 'It's tough to find values when everybody is preferring gambling'
Warren Buffett was critical of a stock market that he said is increasingly driven by speculative trading, as opposed to investing for the long term. "It's tough to find values when everybody is preferring gambling," Buffett told CNBC's Becky Quick. The chairman of Berkshire Hathaway had sharp words on the stock market earlier this year. In May, he likened the stock market to "a church with a casino attached," specifically calling out the surge in one-day options trading as "gambling." The stock market has rallied to all-time highs this year, climbing a wall of worry that included an energy shock from an ongoing war with Iran. Skeptics have said there's too much speculation in stocks tied to the artificial intelligence buildout, with vehicles such as options and leveraged exchange-traded funds adding fuel to the fire. Equities have increasingly attracted retail traders en masse, who are buying shares of memory chipmaker Micron and recent IPO SpaceX. The billionaire investor, 95, known for his stout adherence to value investing expressed his belief that the most meaningful investment opportunities are fewer and far between, requiring a patient and disciplined approach. "There are times when opportunities are just thrown at you so fast you can't, you know, it's unbelievable," the Berkshire chairman said. "And then there's other times when you're very, very lucky if you find one thing in a couple of years. And it should always be that the the latter is what prevails." "But since humans love to gamble so much, there's more money in in actually cultivating gamblers than there are cultivating investors," he said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
3 Reasons FBNC is Risky and 1 Stock to Buy Instead
3 Reasons FBNC is Risky and 1 Stock to Buy Instead First Bancorp has followed the market's trajectory closely, rising in tandem with the S&P 500 over the past six months. The stock has climbed by 11.3% to $64.01 per share while the index has gained 8.2%. Is now the time to buy First Bancorp, or should you be careful about including it in your portfolio? Dive into our full research report to see our analyst team's opinion, it's free. Why Is First Bancorp Not Exciting? We don't have much confidence in First Bancorp. Here are three reasons why there are better opportunities than FBNC, plus one stock we'd rather own. 1. Long-Term Revenue Growth Disappoints Two primary revenue streams drive bank earnings. While net interest income, which is earned by charging higher rates on loans than paid on deposits, forms the foundation, fee-based services across banking, credit, wealth management, and trading operations provide additional income. Regrettably, First Bancorp's revenue grew at a mediocre 8.2% compounded annual growth rate over the last five years. This was below our standard for the banking sector.First Bancorp Quarterly Revenue 2. Projected Net Interest Income Growth Is Slim Forecasted net interest income by Wall Street analysts signals a company's potential. Predictions may not always be accurate, but accelerating growth typically boosts valuation multiples and stock prices while slowing growth does the opposite. Over the next 12 months, sell-side analysts expect First Bancorp's net interest income to rise by 4.3%, a deceleration versus its 9.9% annualized growth for the past two years. This projection is below its 9.9% annualized growth rate for the past two years. 3. EPS Barely Growing Analyzing the long-term change in earnings per share (EPS) shows whether a company's incremental sales were profitable — for example, revenue could be inflated through excessive spending on advertising and promotions. First Bancorp's unimpressive 6.5% annual EPS growth over the last five years aligns with its revenue performance. This tells us it maintained its per-share profitability as it expanded.First Bancorp Trailing 12-Month EPS (Non-GAAP) Final Judgment First Bancorp isn't a terrible business, but it doesn't pass our quality test. That said, the stock currently trades at 1.6× forward P/B (or $64.01 per share). Beauty is in the eye of the beholder, but we don't really see a big opportunity at the moment. We're fairly confident there are better investments elsewhere. We'd recommend looking at a dominant aerospace business that has perfected its M&A strategy. Stocks We Would Buy Instead of First Bancorp ONE MORE THING: Top 6 Stocks for This Week. This market is separating quality stocks from expensive ones fast. AI is taking down whole sectors with no warning. In a rotation this fast, you need more than a list of good companies. Story Continues Our AI system flagged Palantir before it ran 1,662% between October 2022 and February 2026. AppLovin before it ran 753% between February 2024 and February 2026. Nvidia before it ran 1,178% between January 2023 and February 2026. Each week it produces 6 new names that pass the same tests. Get Our Top 6 Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today. View Comments
PPI wholesale inflation falls 0.3% in June thanks to lower gas prices
Wholesale inflation dipped in June, the Bureau of Labor Statistics reported Wednesday, with the Producer Price Index for final demand falling 0.3%. It marked the first time the index has moved lower on a monthly basis since August 2025. And the June pullback in wholesale prices came before the ceasefire between the U.S. and Iran collapsed, driving oil prices higher again. Final demand prices had risen 0.6% in May and 1.1% in April. On an annual basis, the index for final demand rose 5.5% through June. The June decline was driven by a 1.4% drop in prices for final demand goods — the largest such decrease since July 2022, when goods prices fell 1.9%. Energy prices led the goods decline, falling 6.4% for the month. Food prices also slipped 0.6%. Prices for final demand goods excluding food and energy edged up 0.2%. Gasoline accounted for nearly two-thirds of the June decline in final demand goods prices, dropping 12%. Diesel fuel, jet fuel, fresh vegetables, crude petroleum, and thermoplastic resins also fell. Plastic products and residential electric power were among the categories that posted increases. Final demand services prices rose 0.2% in June after falling 0.1% in May. More than 60% of that gain came from trade services margins, which advanced 0.4%. Margins for fuels and lubricants retailing jumped 13%, accounting for roughly half of the services increase. Margins for machinery and vehicle wholesaling declined 8.4%. The core PPI measure — final demand excluding food, energy, and trade services — rose 0.1% in June after jumping 0.8% in May. That measure was up 5.1% over the prior 12 months. The June result met analyst expectations, according to Barron's. Economists had forecast a 0.3% drop for the month. Core PPI came in at 0.2%, short of the 0.3% gain that forecasters had anticipated, according to CNBC. At the intermediate demand level, prices for processed goods fell 1.2% — the largest decline since December 2022 — driven by a 7.3% drop in processed energy goods. Prices for unprocessed goods fell 4.1%, the steepest drop since May 2023, with unprocessed energy materials down 8.1%. Crude petroleum fell 12.1% and diesel fuel fell 18%. The next PPI report, covering July 2026, is scheduled for release on Aug. 13, 2026. View Comments
New York Fed President Williams says inflation has peaked, rates 'well positioned'
New York Federal Reserve President John Williams said Wednesday that he sees multiple signs that inflation has peaked, allowing the central bank to hold interest rates in place despite market expectations for a hike in coming months. In a speech delivered to business leaders in his home district, Williams cited five reasons why he expects the latest price surge has run its course. "There are encouraging reasons to expect that inflation has peaked and should edge down in coming quarters," he said. "I expect overall inflation to decline to around [3.25%] percent by year-end, then continue on a glide path toward our 2 percent goal in 2027 and land on target in 2028," he later added. Inflation spiked this year following after U.S. and Israel attacked Iran in late February, sending oil prices spiraling higher. Williams cited the war, along with lingering tariff impacts and accelerated technology spending, as the primary drivers. However, he sees signs that those factors, plus other inputs, are easing. Specifically, there shouldn't be "significant additional impulse" from tariffs as expiring duties are merely replaced by one ones. At the same time, the oil spike has "likely peaked and will come down closer to levels seen before" the fighting, he said. Artificial intelligence investment also is seen as another contributor, but Williams said "imbalances" should "recede over time as more supply comes online." He also cited the labor market as not a source of inflation, and concluded that inflation expectations also are "well-anchored," giving the Fed policy breathing room. "Growth in the economy is solid and on trend, and the labor market is likewise solid and stable," he said. "But with inflation running high, it is imperative that we restore it to the Federal Reserve's 2 percent longer-run goal on a sustained basis. The current stance of monetary policy is well positioned to do that." Nevertheless, markets still expect the Fed to hike as soon as September. By a narrow margin, Williams' colleagues on the Federal Open Market Committee in June also penciled in one quarter-percentage-point increase by the end of the year. The remarks come a day after the Bureau of Labor Statistics reported that consumer prices posted an unexpectedly sharp 0.4% drop in June, taking the annual inflation rate down to 3.5%. It was the largest one-month price decline since April 2020, but still left the Fed well short of its inflation target. Fed Chairman Kevin Warsh told the House Financial Services on Tuesday that the price drop did not represent a "mission accomplished" moment. "That is not my view," he said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Buffett Says He Was Behind Berkshire Purchase of Alphabet Shares
(Bloomberg) -- Warren Buffett said he initiated Berkshire Hathaway Inc.'s bet on Google parent Alphabet Inc., a sign of the billionaire's support for the technology company's spending on artificial intelligence. The Berkshire chairman's successor as chief executive officer, Greg Abel, doesn't make any decision Buffett doesn't approve of, and vice versa, Buffett said in a CNBC interview Wednesday. Buffett said he made a mistake overlooking Alphabet when it was still asset-light and a markets darling. He's now changed his mind, even as the tech firm dramatically boosted its capital expenditures in the race to develop AI products. "They're more likely to be a winner based on their record than probably 90% or 95% of what gets merchandised through Wall Street," Buffett said in the interview. Berkshire started building a stake in Alphabet last year, and now owns shares worth almost $21 billion as of the market's close on Tuesday. The Omaha, Nebraska-based conglomerate also invested $10 billion in a private placement as part of an $80 billion deal to buttress the tech firm's investments in AI. While Buffett appears more inclined to invest in tech stocks, the investor still favors other businesses, he said. "I would say that I don't like it as well as at least four or five other businesses that we own," Buffett said. More stories like this are available on bloomberg.com ©2026 Bloomberg L.P. View Comments
Buffett says Trump's pick of Kevin Warsh for Fed chair was 'good choice'
New Federal Reserve Chairman Kevin Warsh was a "good choice" for the job, Warren Buffett told CNBC. Warsh made his mark during his first meeting as chair in June, holding rates steady while outlining changes to the central bank's approach. In Congressional testimony on Tuesday, Warsh pledged a "regime change" in Fed policy and promised to tackle inflation. "I think he will do the best he can at achieving the job he was assigned to do, which is 2% inflation and maintaining maximum employment," Buffett said in an interview with Becky Quick on "Squawk Box." "He can't be perfect at it, and just like I know I couldn't be perfect at taking people's money and earning super returns on it," he added. Warsh took the helm in May after being nominated by President Donald Trump and confirmed by Congress. On Wednesday, he'll return to the Capitol to testify in front of the Senate Banking Committee. "He cares about the country," Buffett said. "I think that's been true of a good many. It doesn't mean their decisions are always great, but because sometimes the decisions are so tough." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Stocks making the biggest moves premarket: BlackRock, PayPal, ASML, Morgan Stanley & more
Check out the companies making the biggest moves premarket: BlackRock — The investment management company jumped more than 4.5% after it reported better-than-expected earnings. BlackRock delivered adjusted earnings of $13.91 per share, topping an LSEG estimate of $12.59Revenue also beat estimates. Pentair — Shares tumbled more than 14% after the water-treatment equipment maker issued preliminary second-quarter results that missed Wall Street expectations. The company said it expects adjusted earnings of $1.12 a share, well below the $1.48 analysts were expecting, according to FactSet. Morgan Stanley — Shares were up 1.5% after the bank delivered record quarterly revenues and profits in its second-quarter earnings report. Earnings came in at $3.46 per share compared to analysts polled by LSEG's expectations for $2.94. Johnson & Johnson — Shares lost more than 1% in the premarket even after the pharma giant posted better-than-expected results for the second quarter. J & J earned an adjusted $2.90 per share on revenue of $25.31 billion. Analysts polled by LSEG expected a profit of $2.85 per share on revenue of $25.05 billion. PayPal — The digital payments platform surged 19% after Reuters reported that payments firm Stripe and private equity company Advent offered to buy PayPal for $53 billion. Citing two people familiar with the matter, Reuters said the deal would price PayPal at $60.50 per share, and that the offer was submitted earlier this month. ASML — Shares rose 3% after the Dutch semiconductor-equipment maker reported quarterly results better than estimates and raised its full-year guidance again. The company hiked its outlook for full-year sales, and now sees a gross margin forecast of between 54 and 56%, up from a previous estimate of between 51 and 53%. IBM — The legacy tech giant rose more than 1% as it recovered some of the steep losses suffered in the previous session. IBM suffered its worst day on record on Tuesday, plunging 25% after releasing disappointing preliminary results for the second quarter. Elevance Health — The stock tumbled 7% despite Elevance Health reporting revenue for the second quarter that was above consensus estimates. Elevance also raised its full-year earnings guidance, which came in slightly above expectations. M & T Bank — The regional bank rose 2% after earnings beat expectations in the second quarter. M & T reported earnings of $5.32 per share, compared to a FactSet consensus of $4.66 per share. Bank of New York Mellon — Shares slipped by 1% despite the bank reporting an earnings and revenue beat in the second quarter. It also expects revenue to now grow double-digits in 2026, but the bank also sees greater expenses than previously anticipated. — CNBC's Fred Imbert contributed reporting
WFC Q2 Earnings Call Highlights Growth Push Amid NIM Pressure
Wells Fargo & Company WFC used its second-quarter 2026 earnings call to press a single message: growth is broadening across the franchise, even as some of that expansion weighs on near-term margin optics. Management repeatedly framed the pressure on net interest margin as a deliberate byproduct of balance sheet deployment, not a deterioration in underlying demand. That distinction mattered because investors focused heavily on margin trends in the Q&A. Management responded by emphasizing that loan, deposit and fee growth are producing stronger returns across businesses and keeping the company on track toward its medium-term profitability goals. WFC Pushes a Broader Growth Story Chairman and CEO Charlie Scharf said every operating segment posted year-over-year growth in both net interest income and noninterest income, with total revenue up 9% to $22.62 billion in the quarter. The earnings release also showed average loans rose 12% and average deposits increased 10%. Management tied that growth to stronger execution after the asset cap came off, with Scharf highlighting momentum in checking accounts, credit cards, auto lending, wealth management and investment banking. He also said the company is deploying capital selectively rather than chasing volume indiscriminately. WFC reported earnings per share of $1.96, surpassing the Zacks Consensus Estimate of $1.73, while revenues of $22.62 billion exceeded the Zacks Consensus Estimate of $21.8 billion. This resulted in earnings and revenue surprises of 13.3% and 3.8%, respectively. However, the earnings call centered less on the quarter's beat and more on how Wells Fargo intends to sustain loan, deposit and fee growth. Wells Fargo & Company Price, Consensus and EPS SurpriseWells Fargo & Company Price, Consensus and EPS Surprise Wells Fargo & Company price-consensus-eps-surprise-chart | Wells Fargo & Company Quote WFC Ties Results to Broader Momentum Chief executive officer Charlie Scharf said revenue growth was broad-based, with every operating segment posting higher net interest income and non-interest income. He framed this as evidence that investments in talent, technology, marketing, AI and cyber defenses are beginning to show up more clearly in operating performance. Chief financial officer Michael Santomassimo added that second-quarter net income rose 17% year over year to $6.4 billion, while earnings per share (EPS) reached $2.00. Total revenues increased 9%, net interest income rose 5% and non-interest income climbed 13%. Management also pointed to balance-sheet growth as proof that the company is operating differently after the asset cap was lifted. Average loans rose 12% and average deposits increased 10% from a year ago. Story Continues Wells Fargo Defends the Margin Trade-Off The sharpest investor focus in the call was on net interest margin. Santomassimo said the margin slipped because Wells Fargo is deliberately growing lower-spread but profitable businesses, particularly interest-bearing deposits and financing activity inside markets. A UBS analyst pressed management on whether these were cyclical or structural pressures. Santomassimo said deposit costs should inch up in the second half as commercial and corporate interest-bearing balances continue to grow, while third-quarter margin compression should be modest, with stabilization expected in the fourth quarter. Scharf was more direct in defending the strategy. He said the margin pressure is not something happening to the bank but the result of choices intended to drive stronger client share, future noninterest-bearing deposits, and better trading and fee revenues over time. WFC Sees Consumer & Wealth Gains Scharf pointed to a steadier consumer franchise than Wells Fargo has shown in years. Consumer primary checking accounts have now grown year over year for 13 straight quarters, while new credit card accounts jumped 46% and mobile active users reached 33.7 million. He also said the company is willing to absorb near-term profitability pressure in cards because newer vintages carry upfront marketing, promotional, onboarding and reserve costs before seasoning into better returns over two to three years. Santomassimo echoed this point during the Q&A, saying profitability in cards should continue to improve over the next couple of years. Wealth also remained a bright spot. Wells Fargo said client assets rose 15% to more than $2.4 trillion, helped by market gains and positive net flows, while adviser retention and recruiting remained strong as the firm rolls out upgraded technology such as Advisor Gateway. Wells Fargo Presses Its Commercial Buildout In commercial businesses, the strongest tone came around corporate and investment banking. Scharf said the firm is seeing payoff from multiyear investments in senior bankers, product capabilities, and balance-sheet deployment, with banking revenue up 20% and markets revenue up 24%. He highlighted share gains in leveraged finance, equity capital markets and M&A, while describing the quarter as a record for investment banking fees. Santomassimo added that investment banking fees exceeded $900 million in the period. Asked by UBS about prime financing and investment banking opportunities, management said the pipeline remains strong and that clients want additional counterparties. Scharf stressed Wells Fargo is still early in building prime services, but sees a significant runway if it paces growth within its risk tolerance. WFC Q&A Tests Expenses, Credit & Capital Questions from Truist and Evercore focused on whether efficiency gains can continue. Santomassimo said the company still sees room to run with lower headcount, more automation and methodical streamlining in risk and regulatory functions, extending a 24-quarter streak of headcount reductions. Credit also drew scrutiny. In response to KBW and RBC, management said both consumer and commercial credit remain strong, with delinquencies running better than modeled and no meaningful broad-based deterioration across borrower cohorts. Net charge-offs fell to 0.34% of average loans. On capital, Santomassimo said the bank is comfortable operating within its 10% to 10.5% CET1 target range after ending the quarter at 10.3%. He said buybacks will continue to balance client growth, market risk and the eventual finalization of capital rules. Wells Fargo Keeps Its Return Ambition Management did not change its 2026 outlook. Santomassimo maintained guidance for net interest income of about $50 billion, plus or minus, and non-interest expense of about $55.7 billion, while saying second-half loan growth should be stronger than originally assumed. Scharf's closing tone was confident but disciplined. He said the bank remains focused on a sustainable 17-18% ROTCE target, with confidence rising as business trends broaden, even as Wells Fargo stays selective in a market where competitors are taking on more wholesale risk. Zacks Signals on WFC WFC carries a Zacks Rank #3 (Hold), which points to a more neutral near-term earnings revision picture than a Zacks Rank #1 (Strong Buy) or Zacks Rank #2 (Buy). Its Momentum Score of A stands out positively, while Value, Growth and VGM Score of D suggest weaker style characteristics in those categories. You can see the complete list of today's Zacks #1 Rank stocks here. Based on Zacks' framework, the strongest setups tend to combine a top Zacks Rank with Style Scores of A or B. A Rank #3 can still be held, but the current score mix indicates a more mixed near-term profile, and the Zacks Rank can change as analysts update estimates after the quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments
JPMorgan, Wells Fargo and other big banks explore how to sidestep debit swipe fee caps
Monkey Business Images/Shutterstock A handful of America's biggest financial institutions are investigating how they might be able to evade mandatory ceilings for certain charges — and, if they're successful, the public could soon be paying more for everyday transactions. While the fees in question aren't directly consumer-facing, they are a built-in part of every debit transaction, impacting everyone who pays for goods and services with a debit card or accepts debit as a form of payment at their place of business. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here's what it is and 3 simple steps to fix it ASAP Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going Currently, when large banks process this form of payment, they charge vendors what is called an interchange or swipe fee, which is set at a maximum of $0.21 plus 0.05% of the purchase amount by law, plus a potential additional cent to cover the costs of fraud prevention (1). But, this limit only applies when payments go through a third party network (2). So, Wells Fargo, Bank of America, JPMorganChase and others are now exploring acquiring their own network to work around the rule that governs these commissions. How do interchange levies work? During a sale, a card network, such as Mastercard, acts as an intermediary between the merchant's and the customer's accounts, facilitating the smooth, quick and encrypted flow of funds. Without these networks, banks would need thousands of direct connections and agreements between one another. In every debit payment, the merchant pays one toll to the network itself for maintenance — called an assessment fee (3) — and another charge, the interchange fee, to the cardholder's bank (though it is also set by the network). This amount covers the institution's expenses and liabilities in providing the card and processing payments. Both fall under the wider umbrella of merchant discount fees for accepting debit and credit cards. But, as Capital One showed when it purchased Discover Financial Services in May 2025 (4), if banks own these systems themselves, they can bypass the legal framework that applies to network-routed transactions, including the limits on interchange rates. According to sources who spoke to The Wall Street Journal (5)this week, for this reason, each of the above mentioned brands have been assessing the feasibility of purchasing a network from payment solutions company Fiserv. Story Continues What would increased interchange fees mean for consumers? Interchange fee maximums were added as an amendment (6) to the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 to keep transaction commissions "reasonable" as debit rose to dominate payment types. The idea was to prevent consumers from shouldering high interchange levies, as when merchant's costs rise, their prices are likely to, as well (and surveys show this (7)). But, some argue that (6) the savings aren't always passed to shoppers, in part because interchange fees are only a portion of those that the vendor pays with every transaction. In addition, banks say (8) that the extra revenue from flexible interchange fees enabled them to offer savings to both merchants and consumers elsewhere, such as through rewards programs, which they've cut back on since the cap was implemented. "By regulating the interchange fee, the goal of the Durbin Amendment was to lower merchants' costs of accepting debit cards and to pass along the cost savings to consumers in terms of reduced retail prices. A few years after the regulation was in place, however, it is unclear how effectively the regulation has fulfilled its intention," states one 2014 study (7). That research also found that interchange limits had little impact on stores' debit restrictions, including minimum amounts to use debit, debit use surcharges or refusal to accept debit payments. Read More: Are you paying too much for car insurance? Here are 3 clever ways to slash your monthly bill "If a merchant imposed debit restrictions prior to the regulation, it is likely the merchant would continue to do so post-regulation," the paper says. This explains why some businesses don't accept, for example, American Express, which operates as both a card issuer and a card network. Still, experts do say consumers may end up feeling the difference if merchant-facing charges are hiked in this way. "For merchants, interchange fees play a large role in determining the expenses associated with each transaction a customer makes with them. Higher interchange rates mean increased transaction costs, potentially driving them towards increasing the prices of their products or services for consumers," warns business fintech platform Airwallex (9). Adam Rust, the director of financial services at the Consumer Federation of America, agrees. "This won't affect consumer protections… but the economics of it could be impactful because interchange costs are passed on to merchants and consumers. If these kinds of changes occur, it does set up the possibility of affecting what people are paying at the checkout," Rust told Moneywise. "It would be a win for big banks, but definitely a loss for merchants. What happens to consumers is less clear, but probably not great." Interchange prices aren't the only banking fee that's made headlines in recent weeks: in late June, one senator took banks to task for "unfair" overdraft fees (10) that generate billions for the sector each year by processing withdrawals before deposits. You May Also Like 'Gold still crashing!': Robert Kiyosaki admits he was wrong — but doubles down on his $35K prediction The tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time. What to do before the window closes Here's the average income of Americans by age in 2026. Are you keeping up or falling behind? When he dies, Warren Buffett said 90% of his wife's inheritance will go into a single investment. Here's why (and how you can do it too) Join 250,000+ readers and get Moneywise's best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now. Article Sources We rely only on vetted sources and credible third-party reporting. For details, see ourethics and guidelines. U.S. Federal Reserve (1); Stripe (2); Finix (3); Stripe Support (4); The Wall Street Journal (5), (8); Investopedia (6); Federal Reserve Bank of Richmond (7); Airwallex (9); Banking Dive (10) This article originally appeared on Moneywise.com under the title: JPMorgan, Wells Fargo and other big banks explore how to sidestep debit swipe fee caps This article provides information only and should not be construed as advice. It is provided without warranty of any kind. View Comments
Money Is Suddenly Rotating Into Financial Stocks. Here's What's Driving It -- and Whether the Move Lasts.
Key Points Profit margins on lending are remaining higher than expected. After being pent-up for years, several major companies are raising funds by going public. Investors are increasingly wary of most AI stocks and are seeking more reliable performers.10 stocks we like better than Bank of America › After a long stretch of subpar performance, financial stocks like Bank of America(NYSE: BAC), American Express(NYSE: AXP), and JPMorgan Chase(NYSE: JPM) are finally rallying. In fact, since the beginning of June, the State Street Financial Select Sector SPDR ETF(NYSEMKT: XLF) -- a tradeable proxy for the entire sector -- is up by more than 8%, while the S&P 500 is little changed That's in sharp contrast to the stocks that had been leading the market for so long. The Roundhill Magnificent Seven ETF(NYSEMKT: MAGS) is actually down by nearly 4% for the same time frame, held back by Alphabet and Microsoft. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks » XLF data by YCharts. Connect the dots. Investors are swapping out their artificial intelligence (AI) holdings for money-related tickers. It's not terribly difficult to understand why. The question is, will this rotation out of more aggressive growth stocks and into less exciting financials last? Driving forces There's a handful of factors in play here, all of which are contributing to the rotation. Chief among these forces is interest rates. Although the baseline Fed Funds Rate is actually down from 2024's peak of more than 5%, at just over 3.5% right now, it's still higher than it's been for the better part of the past 17 years and now projected to linger "higher for longer" than expected just a couple of months ago. Indeed, that's arguably the biggest catalyst for these stocks' turnaround that materialized at the beginning of last month. While the Fed Funds Rate has fallen from two years ago, market-based interest rates on mortgages, automobiles, and credit card debt haven't fallen as much during this stretch. This means banks and other lenders are enjoying wider profit margins on their loans, as their cost of capital compared to what they're charging borrowers is measurably lower. In other words, being in the banking business is more profitable now than it's been in a while and is apt to remain so for the foreseeable future. We're already seeing this dynamic in the industry's recent results. For instance, Bank of America's net interest income rose 9% year over year in the first quarter on lower revenue growth. It would also be naïve to pretend the AI stocks that were once must-haves at almost any price have fallen, at least somewhat, out of favor. Oh, the AI revolution is still well underway to be sure. It's not been quite as revolutionary -- or even as practical for everyday use -- as initially expected. Yet, most of the major names in the business are still planning on spending hundreds of billions of dollars on AI infrastructure this year alone, with no clear guarantee this spending will be justified in the long run. Out of caution, many investors are quietly dialing back some of their exposure to AI technology stocks and seeking undervalued safer investments like JPMorgan and Bank of America. The former trades at only 15 times forward earnings, while Bank of America shares are dirt cheap at a forward price-to-earnings (P/E) ratio of a little more than 13, underscoring deep value for most of the financial sector. Meanwhile, after a bit of a dry spell, initial public offerings (IPOs) and acquisitions are higher than they've been in some time. Although Ernst & Young (EY) notes that the total number of worldwide IPOs was down slightly in the first half of 2026, the total amount of corporate capital raised during the first half of 2026 was up more than 200% year over year, led by SpaceX's recent record-breaking IPO. This underwriting of course generates fee revenue for the investment banks that sponsor these public offerings. Looking ahead But is this recent bullishness -- or its underpinnings -- built to last? Mostly, yes. Interest rates may hold up longer than had been recently anticipated. However, the Federal Reserve's Open Market Committee that largely sets the tone for all market-based interest rates still expects baseline rates to gradually drift somewhat lower through 2028. In theory, this works against lenders by narrowing profit margins on lending. In reality, a slow, measured decline in the Fed Funds Rate doesn't necessarily have to crimp lending profit margins. Borrowers may be more than satisfied with interest rates that are simply a little lower than today's. And as long as the domestic or global economy doesn't slip into a recession anytime soon (and the New York Federal Reserve now says there's only a 16% chance of this happening within the next 12 months), any such pressure on profit margins could be offset by continued economic expansion that powers loan demand. To this end, EY expects U.S. gross domestic product (GDP) to expand a serviceable 1.8% this year before accelerating to 1.9% next year. Meanwhile, the International Monetary Fund (IMF) believes worldwide GDP will rise 3% this year and then pick up its pace to 3.4% for 2027. That's a degree of economic strength that can really bolster banks' bottom lines. Image source: Getty Images. As for the capital markets sector, although it's difficult to predict a number or amount of mergers and acquisitions (M&A) or public offerings, IPOs from big AI companies like OpenAI and Anthropic are on the radar. Then there are the lesser ones that are also greater in number. These prospective IPOs include Databricks, Canva, and Shein, although sustained economic strength often draws out several unexpected public offerings as well. Although 2026 will likely end up being a banner year for capital markets that's tough to match in 2027, the year ahead should still be a good one for the investment banking business. So, yes, the newly rekindled strength in the financial sector is likely to last, led by investment banks and lenders that hadn't been performing particularly well of late -- as long as the economy remains reasonably healthy. Should you buy stock in Bank of America right now? Before you buy stock in Bank of America, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bank of America wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $398,160!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,249,202!* Now, it’s worth noting Stock Advisor’s total average return is 918% — a market-crushing outperformance compared to 209% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of July 15, 2026. Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. James Brumley has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, American Express, JPMorgan Chase, and Microsoft. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Meta’s Sudden Stock Rebound Shows Investors Endorse AI Plans
(Bloomberg) -- In the span of just two weeks, Meta Platforms Inc. has gone from a market afterthought to one of its hottest stocks, as investors finally like what Facebook's parent is saying about its artificial intelligence plans. Most Read from Bloomberg Thailand Scraps Plan to End Visa-Free Entry for Indian Tourists Trump Drops 20% Fee for Hormuz Cargo After Gulf Pressure US Hits Iran With Strikes, Blockade as Trump Plans Hormuz Charge OpenAI's First Device Will Be Movable, Screenless Speaker Built as AI Companion 'We Faltered': IBM Plunges Most Since at Least 1968 on Miss The shares are up 17% in July, making them the third-best performer in the S&P 500 Index and on track for their best month since May 2025. That's a huge turnaround from June, when Meta dropped 11%, putting its performance near the bottom of the S&P 500. The stock is still only flat for the year, but that's a vast improvement from the first half, when it lost 15% and was among the weakest performers in Big Tech. The rally got started on July 1 when Bloomberg News reported that Meta was developing plans for a cloud-computing business, which sent the stock up 8.8% that day. Last week, Chief Executive Officer Mark Zuckerberg said Meta is considering renting some of its AI infrastructure to outsiders given the high demand for computing capacity. The social media giant also recently unveiled a new version of its AI model, Muse Spark 1.1, that includes a new paid tier for developers, the first time Meta has charged businesses to access its models. "If a catalyst starts to play out, a stock trading at a really depressed valuation like Meta, has more upside or can act more like a coiled spring," said John Belton, portfolio manager at Gabelli Funds, which owns Meta shares. To Belton's point, the selloff has made Meta's stock historically cheap. The shares are priced at about 16 times earnings estimated over the next 12 months, compared with their 10-year average of more than 20. It has the lowest valuation among the Magnificent Seven tech giants and trades at a discount to the S&P 500 and Nasdaq 100 indexes. In late June, Meta's multiple sank to around 13 times forward earnings. That's the lowest it has been at any point in its history other than during the inflation collapse in 2022 and early 2023, which also coincided with the launching of the company's controversial and expensive metaverse project. It's been a long slide for Meta's stock, which hit a high of $790 on Aug. 12, 2025, and proceeded to fall roughly 30% over the next 10 months, ending June around $563. Part of the decline was the result of a broader rotation in the market, where investors sold the shares of the big AI spenders, like Meta, and bought those of chipmakers, memory manufacturers and other companies that are benefiting from hundreds of billions of dollars in capital expenditures. Story Continues But the move also was specific to Meta. The company saw early signs of AI boosting advertising revenue, but it struggled to show how it would use the technology across its businesses. In addition, its large language model trailed competitors like OpenAI's ChatGPT and Anthropic's Claude. The trigger for the most recent leg lower was the company's last earnings report on April 29, when it raised its 2026 spending outlook in part because of additional data center costs and "higher component pricing." Then, a day later, Meta sold $25 billion of bonds to fund part of its AI spending. The announcements stoked investors' fears that Meta's heavy AI spending won't pay off. And it brought back memories of 2022, when Zuckerberg made a big bet on the metaverse that didn't pan out. Lack of Trust "The multiple compression had a lot to do with the lack of trust from the investment community on Meta," said Angelo Zino, head of the technology team at CFRA. Clearly, Wall Street was looking for signs that the company's AI plans were more concrete than simply throwing around money. Now that the results are starting to show promise, investors are finding reasons to buy the shares again. Wall Street is bullish on the company, with 73 of the 79 analysts tracked by Bloomberg who follow the stock giving it a buy-equivalent rating. The average price target of about $816 implies that the shares will rise more than 23% over the next 12 months. Meanwhile, Meta hasn't slowed its spending. This week, the company committed an additional $40 billion for a data center campus in Louisiana, bringing the expected total investment in the site to more than $250 billion. "There's the possibility that political pressure and societal pressure could slow down or even cut off some of these investments as jurisdictions push back on these buildouts," said Dan O'Keefe, lead portfolio manager of the Global Value team at Artisan Partners, which owns Meta shares. "So I think it's been the right call to front-end this massive investment, and I do see it generating returns for business." Investors will know more when Meta reports second-quarter results at the end of July. The company is expected to post 27% revenue growth and earnings per share that are essentially flat from a year ago. But as is so often the case, investors will be most eager for updates on where things are headed in AI and Meta's various businesses. "If you actually think about Meta here over the last couple years, they've probably monetized AI just about better than anybody within their core ecosystem," CFRA's Zino said. "And now being able to show some diversification on top of that, and new initiatives, especially with the valuation, that sets you up pretty nicely for a very strong rally here over the next couple of quarters." Tech Chart of the Day South Korean President Lee Jae Myung said the nation's stock market surged in a short period and would need time to stabilize, after his administration faced criticism for the extreme volatility blamed by some on leveraged products. Korean stocks have turned choppy in recent weeks, after a world-beating rally fueled by a pair of chipmakers made the $4 trillion market vulnerable to shifts in AI trade sentiment. Top Tech News ASML Holding NV lifted its annual sales forecast for the second time this year and laid out plans to increase production as a surge in artificial intelligence spending drives demand for the Dutch company's chip-making machines. OpenAI's much-anticipated push into consumer devices is slated to begin with a mobile, screen-free smart speaker designed to be a new type of home computer for the AI era, according to people familiar with the matter. Payment processing firm Stripe Inc. and private equity firm Advent International offered to buy fintech pioneer PayPal Holdings Inc. at a valuation topping $53 billion, Reuters reported, citing people familiar with the matter. International Business Machines Corp. shares slid the most in at least 58 years after the company reported preliminary second-quarter sales that fell short of expectations, attributing the miss to customers shifting their spending to chips and servers amid AI-fueled shortages. Earnings Due No major earnings expected --With assistance from Soo-Hyang Choi, Sangmi Cha and David Watkins. Most Read from Bloomberg Businessweek Credit Card Holders Are Using 'Friendly Fraud' to Get Back at Retailers Job Hunters Are Using AI to Cheat in Interviews, and Failing at the Office How Brands Sneak In Cheaper Ingredients to Protect Their Profit Margins The Shattering of the Middle East's Most Unlikely Friendship CoverGirl Stops Chasing Gen Z to Focus on Middle-Aged Women ©2026 Bloomberg L.P. View Comments
BlackRock Assets Cross $15 Trillion, Adding $192 Billion of Cash
(Bloomberg) -- BlackRock Inc. pulled in $192 billion of net client cash in the second quarter, with investors pouring money into exchange-traded funds and pushing total assets above $15 trillion for the first time. Most Read from Bloomberg Thailand Scraps Plan to End Visa-Free Entry for Indian Tourists Trump Drops 20% Fee for Hormuz Cargo After Gulf Pressure US Hits Iran With Strikes, Blockade as Trump Plans Hormuz Charge OpenAI's First Device Will Be Movable, Screenless Speaker Built as AI Companion 'We Faltered': IBM Plunges Most Since at Least 1968 on Miss Investors added $53 billion to actively managed funds on a net basis and revenue rose 31% from a year earlier to $7.1 billion, BlackRock said Wednesday in a statement. "Market fundamentals are strong and well supported, with higher margins and earnings momentum catalyzed by new technology," Chief Executive Officer Larry Fink said in the statement. BlackRock pulled in record net inflows of $321 billion for the first half of the year, the company said. Net flows to long-term investment funds were $199 billion, beating the $170 billion average estimate of analysts surveyed by Bloomberg. BlackRock's ETF business took in $178 billion, accounting for the vast majority of new money flowing into the firm, while cash and money-market funds lost $7 billion in net money. BlackRock's adjusted earnings per share in the quarter rose 15% from a year ago to $13.91. That beat the average analyst estimate of $12.66. The money manager reported 8% growth in organic base fees, a metric that rises as more customers favor higher-fee products. Private markets vehicles, systematic funds and actively managed ETFs all deliver juicier fees than index funds. The second quarter was the eighth consecutive three-month period in which the firm reported 5% or higher growth. Long a dominant player in stocks, bonds and public markets, BlackRock is in the midst of transforming itself into one of the largest firms as well in private credit and infrastructure markets — including by buying credit firm HPS Investment Partners for $12 billion in 2025. BlackRock said fees tied to the HPS deal helped drive the increase in revenue. BlackRock took in $22 billion in liquid alternative and private assets in the quarter compared with $14.6 billion in the prior quarter. Private markets accounted for $15.4 billion of the alternatives flows in the period. Shares of BlackRock fell 4.2% this year through Tuesday, trailing the 10.2% increase of the S&P 500 index. Most Read from Bloomberg Businessweek Story Continues Credit Card Holders Are Using 'Friendly Fraud' to Get Back at Retailers Job Hunters Are Using AI to Cheat in Interviews, and Failing at the Office How Brands Sneak In Cheaper Ingredients to Protect Their Profit Margins The Shattering of the Middle East's Most Unlikely Friendship CoverGirl Stops Chasing Gen Z to Focus on Middle-Aged Women ©2026 Bloomberg L.P. View Comments
IBM Plunged After Issuing a Warning on the Software Sector. Time to Buy?
Key Points IBM's revenue growth slowed to a crawl in Q2 due in large part to hardware costs crowding out software spending. Even after the decline, IBM's total returns have outperformed the S&P 500 during Arvind Krishna's time as CEO. The stock's P/E ratio has fallen to a multiyear low. 10 stocks we like better than International Business Machines › International Business Machines (NYSE: IBM) just experienced one of the largest one-day declines in its history. That 25% drop on Tuesday came after CEO Arvind Krishna admitted that high capital expenditures on hardware had caused many companies to shift budgets away from software spending. Such a sharp reaction from the market will understandably leave many investors wondering how to react. However, there are good reasons to treat this plunge as a buying opportunity. Missed Nvidia in 2009? This Rare Signal Is Flashing Again.In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » Image source: The Motley Fool. Why IBM sold off Admittedly, the negative reaction to Krishna's statement was understandable. According to IBM's preliminary Q2 results, the company's revenue grew by just 1% year over year. That is well below its 9% increase in Q1 and brought revenue growth down to levels comparable to where IBM was before Krishna shifted the company's focus to the cloud and AI. Software is now IBM's largest business segment, accounting for almost 45% of the company's revenue in the first quarter. Additionally, the software segment's annual growth rate fell from 11% in Q1 to just 5% in Q2. Moreover, while IBM still operates an enterprise hardware business, its infrastructure segment experienced a 7% annual revenue decline in Q2. Hence, it does not appear to have benefited from the boom in hardware spending. Why investors should stay confident Nonetheless, the one benefit to investors is that the drop in this tech stock seems to have instantaneously priced in this particular challenge. IBM's P/E ratio is now just 19, near its multiyear low. As recently as last fall, its earnings multiple was above 40, so this pullback represents a considerable discount. Moreover, under Krishna's leadership, IBM's total returns have outpaced the S&P 500, indicating that he has earned investors' confidence during his six-year tenure as the head of the company. IBM Total Return Level data by YCharts. Also, not all of the news in the preliminary report was negative. Red Hat's year-over-year revenue growth in Q2 was 11%, indicating that bright spots remain in IBM's software business. Furthermore, the U.S. government is betting billions on quantum computing, and IBM has long led the way in that technology. Amid its partnership with the government, IBM in May announced plans for the construction of Anderon, the first pure-play foundry to build quantum wafers. In addition to the $2 billion investment in the foundry ($1 billion of which came from CHIPS Act funds), it plans to invest $10 billion in quantum technology over the next five years. Such investments greatly increase the odds that IBM will be a major player in a technology that's likely to drive innovation for years to come. Buy IBM stock The struggles in the software sector and IBM's 1% revenue growth in Q2 are likely to continue weighing on the stock in the near term. Fortunately, despite the sell-off, IBM stock has prospered under Krishna, and it appears that it is on track to continue outperforming in the longer term. Additionally, the continued success of Red Hat and its investments in quantum computing should serve IBM well in the coming years. With this growth story now on sale at just 19 times earnings, Tuesday's stock price plunge could be a blessing in disguise for new investors. Should you buy stock in International Business Machines right now? Before you buy stock in International Business Machines, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and International Business Machines wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $398,160!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,249,202!* Now, it’s worth noting Stock Advisor’s total average return is 918% — a market-crushing outperformance compared to 209% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of July 15, 2026. Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends International Business Machines. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Boehringer Ingelheim reports first-half 2026 sales growth, driven by JARDIANCE® and new product launches in the U.S.
Strong U.S. demand and new product launches drive first-half sales in Human PharmaNet sales reach EUR 15.8 billion, led by JARDIANCE® and successful U.S. launchesPositive Phase III data for survodutide and pipeline progress strengthen long-term outlook Boehringer Ingelheim reported continued sales growth in the first half of 2026, driven by strong growth in the U.S. due to increased demand for JARDIANCE® (empagliflozin) and successful new launches. Group net sales increased by 16.2%* to EUR 15.8 billion, with Human Pharma contributing EUR 13.1 billion and Animal Health EUR 2.6 billion. Shashank Deshpande, Chairman of the Board of Managing Directors and Head of Human Pharma, Boehringer Ingelheim said: “The strong uptake of our new products JASCAYD® and HERNEXEOS® show the value of the scientific innovation behind these medicines for patients, bringing real progress in areas with significant unmet medical need. In an era of accelerated medical discovery, where the boundaries of what is possible are continuously expanding, innovation-friendly environments such as the United States play a critical role in ensuring new therapies reach patients more rapidly.” Frank Hübler, Member of the Board of Managing Directors responsible for Finance, added: “Our business results show that, in Human Pharma and Animal Health, we successfully navigated a challenging macroeconomic environment and political uncertainties. We remain focused on delivering innovative medicines to patients and animals worldwide. Looking ahead, we need to direct our long-term investments to where they are closest to our growth markets and where they can create the best possible impact for patients. This also includes engaging with governments around the globe to create an environment that appropriately recognizes the value of innovative medicines and ensures patient access.” Human Pharma: Growth supported by key launches Human Pharma sales grew 20.1%* to EUR 13.1 billion, supported by the new product launches. Established products such as JARDIANCE® for the treatment of chronic kidney disease, type 2 diabetes and heart failure remained major growth drivers, contributing EUR 5.7 billion in net sales in the first half of the year. The positive development of JARDIANCE® was supported by a large and growing patient base, as well as changes in the U.S. pricing and reimbursement environment, which drove significant volume growth. This trend is in line with Boehringer’s commitment to ensuring continued patient access and affordability. Without the JARDIANCE® volume effect, the growth of the Human Pharma Business Unit in the first six months would have been in line with the overall pharma market. The company also saw a successful uptake of its most recent product launches, JASCAYD® (nerandomilast) and HERNEXEOS® (zongertinib), particularly in the U.S., as both medicines were able to gain significant traction thanks to the innovation-friendly climate in the U.S. but also in China and Japan. Streamlined processes as well as stronger incentives for innovation in these geographies paved the way for swiftly making these breakthrough medicines available to patients. JASCAYD®, for the treatment of idiopathic pulmonary fibrosis (IPF) and progressive pulmonary fibrosis (PPF), saw a strong uptake reflecting the urgent need for new treatment options in a disease area that has seen limited therapeutic progress for many years. Following approvals in the United States, China and Japan, as well as Thailand, the United Arab Emirates, the UK and Brazil, JASCAYD® is awaiting EU approval from the European Medicines Agency (EMA). HERNEXEOS®, an oral treatment for HER2-mutant advanced non-small cell lung cancer, marked the company’s successful re-entry into oncology after ten years with launches in the U.S., China and Japan. The company expects that HERNEXEOS® will be available for European patients only from 2028 after Phase III data becomes available. Boehringer continued to advance its late-stage pipeline programs during the first half of 2026, realizing significant progress in oncology and cardio-renal-metabolic diseases. Positive Phase III data for survodutide demonstrated the medicine’s potential to address metabolic and liver health in addition to overweight and obesity. Progress with a next-generation triple agonist underlines Boehringer’s ambition to build a broad obesity and metabolic health portfolio. At the same time, Boehringer Ingelheim initiated three Phase III oncology trials, reinforcing its goal to expand precision cancer care. The company also advanced key assets such as obrixtamig, an experimental cancer immunotherapy, and apecotrep, an investigational drug targeting kidney disease. Research momentum also continued to be strong, with five new compounds entering clinical trials. The Boehringer Human Pharma R&D pipeline spans around 80 projects. Animal Health: Focus on new launches and emerging disease outbreaks response The Animal Health business reported net sales of EUR 2.6 billion in the first six months of 2026, a 0.4%* increase compared to the previous year. The performance reflected a modestly growing animal health market, with increased consumer price sensitivity and fewer veterinary visits in several countries. The company continues to execute its 2026 launch plan, including LENZELTA®, a new vaccine that advances mastitis prevention in dairy cows and has launched in several EU countries, and Eko Vet+™ | CANINEBEAT® AI, an AI-based solution that helps detect heart murmurs in dogs and has already launched in the U.S., the UK and Germany. Boehringer Ingelheim also continues to support responses to emerging animal disease outbreaks, including New World screwworm in the U.S., after receiving Emergency Use Authorizations (EUAs) earlier this year from the U.S. Food and Drug Administration. The company continues to progress its R&D pipeline in Animal Health, with strong candidates across infectious and non-infectious diseases as well as parasiticides, building a solid innovation foundation for the future in pets, equine, and livestock animals. Outlook Looking ahead, Boehringer expects that uptake of recent launches, upcoming pipeline milestones, and ongoing investments in innovation will support performance for the remainder of the year and beyond. At the same time, the company will remain focused on navigating a dynamic external environment while maintaining a balanced and disciplined approach to growth. Boehringer Ingelheim Boehringer Ingelheim is a biopharmaceutical company active in both human and animal health. As one of the industry’s top investors in research and development, the company focuses on developing innovative therapies that can improve and extend lives in areas of high unmet medical need. Independent since its foundation in 1885, Boehringer takes a long-term perspective, embedding sustainability along the entire value chain. Our approximately 54,300 employees serve over 130 markets to build a healthier and more sustainable tomorrow. Learn more at www.boehringer-ingelheim.com.
Bank of Montreal (TSX:BMO) Stock Looks Fully Priced On Its 156% Run
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. After a 155.8% total return over the past 5 years, Bank of Montreal stock now trades at levels where the Excess Returns intrinsic value estimate and market multiples both point to pricing that looks broadly in line with fundamentals rather than clearly cheap. At the same time, the bank carries a low overall value score, which suggests the current valuation leaves less room for error than in the past. Over 5 years, Bank of Montreal has returned 155.8%, which puts today's valuation in the context of a long and strong run already behind existing shareholders. New initiatives such as BMO Insurance's AI enhanced SmartDecision underwriting tool can support expectations for earnings durability, while questions around how long current sector valuations can be maintained remain a key risk for the stock's pricing. Bank of Montreal passes only 1 of 6 valuation checks, so on a broad set of metrics it leans more expensive than outright bargain. The issue now is whether Bank of Montreal's recent share price level already reflects most of the good news, or if there is still enough valuation support for further upside. Find out why Bank of Montreal's 70.6% return over the last year is lagging behind its peers. Where Does Bank of Montreal Sit on Excess Returns? The Excess Returns model looks at whether Bank of Montreal is earning more on its equity than the return investors require. Here, analysts expect stable earnings power of about CA$15.83 per share on a stable book value base of roughly CA$119.10 to CA$119.96 per share, with an average forecast return on equity of 13.29%. Against an estimated cost of equity of CA$9.26 per share, the model calculates excess return of CA$6.57 per share and rolls that forward to an intrinsic value estimate of about CA$255.83 per share. With the stock recently around CA$254.46, Bank of Montreal screens as only about 0.5% undervalued, suggesting the current price already aligns closely with the equity return assumptions built into the Excess Returns model. The recent 40% share price gain highlighted in coverage of the Big Six banks helps explain why the market is no longer pricing in a large margin of safety versus intrinsic value. Overall, the Excess Returns workup indicates that Bank of Montreal stock now appears roughly fairly valued, with only a slight tilt toward undervalued on this model. Bank of Montreal is fairly valued according to our Excess Returns, but this can change at a moment's notice. Track the value in your watchlist or portfolio and be alerted on when to act. Story Continues BMO Discounted Cash Flow as at Jul 2026 Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Bank of Montreal. Does Bank of Montreal Look Fairly Valued on Earnings? P/E is usually one of the clearest ways to compare large, established banks like Bank of Montreal, because earnings are a key anchor for both dividends and long term value. Bank of Montreal currently trades on a P/E of about 19.2x, compared with an industry average of roughly 11.6x and a peer average of 18.2x. This places the stock at a modest premium to both the broader banking group and its closest competitors. The Fair Ratio estimate for Bank of Montreal, which adjusts for its size, margins and risk profile, sits at about 18.6x. That is only slightly below the current 19.2x, so the gap is small and does not point to a clear discount or a stretched premium. Instead, it indicates that today's P/E is broadly aligned with what this framework suggests investors might be willing to pay for the bank's earnings. Overall, Bank of Montreal appears roughly fairly valued on its P/E multiple, with pricing that sits close to the model's view of an earnings-based valuation.TSX:BMO P/E Ratio as at Jul 2026 See what the numbers say about this price — find out in our valuation breakdown. The Bank of Montreal Narrative: What Would Justify Today's Price? Simply Wall St Narratives for Bank of Montreal pick up where this valuation puzzle leaves off by spelling out which paths for Bank of Montreal's growth, margins and earnings would need to play out for the stock to be worth meaningfully more or less than it is today. Each Narrative ties a fair value range to a clear story about Bank of Montreal's potential catalysts and main risks, so you can see over time which version of events is actually unfolding on the Community page. Share a narrative on Bank of Montreal to present a number-driven case around its valuation, including an assessment of whether developments like BMO Insurance's AI-enhanced SmartDecision tool support the current pricing, and then track how that thesis holds up as new results arrive. Do you think there's more to the story for Bank of Montreal? Head over to our Community to see what others are saying! The Bottom Line For Bank of Montreal, the Excess Returns intrinsic value estimate and the P/E based fair ratio both point to pricing that looks broadly in line with what current earnings and returns on equity support. The slight discount in the intrinsic value workup is tempered by weaker results on wider valuation checks, which do not suggest a clear bargain. From here, the real swing factor is whether Bank of Montreal can keep earnings power and returns on equity close to current expectations without needing the market to pay a higher multiple than it already does. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include BMO.TO. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com View Comments
JPMorgan Chase (JPM) Stock Trades At A Discount To Fair Value But At A Premium On Earnings
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. JPMorgan Chase stock has returned about 160% over the past 5 years, yet the latest valuation work suggests a mixed picture, with the Excess Returns intrinsic value estimate pointing to meaningful upside while the broader checks do not flag the shares as a clear bargain. Over 5 years, JPMorgan Chase has delivered a total return of roughly 160%, which means anyone looking at the stock today is assessing it after a strong multiyear run rather than from a depressed base. Record profitability supported by trading and investment banking, together with heavy investment in AI and technology, can support confidence in future cash generation, but management itself is highlighting risks around inflation, elevated asset prices and broader economic vulnerabilities that may limit how much investors are willing to pay for that growth. On Simply Wall St's broader valuation checks, JPMorgan Chase passes only 2 of 6. This suggests the stock does not screen as obviously cheap even though the intrinsic value estimate indicates it may be trading at a discount. For investors, the debate is whether JPMorgan Chase's current share price already reflects its strong track record and recent news flow or whether the intrinsic value estimate pointing to potential undervaluation still leaves room for further upside. Find out why JPMorgan Chase's 22.0% return over the last year is lagging behind its peers. Is JPMorgan Chase a Bargain on Excess Returns? The Excess Returns model looks at how much profit JPMorgan Chase can generate on its equity above the return investors require, then capitalizes that stream. For JPMorgan Chase, the inputs assume a stable earnings power of $25.60 per share on a Stable Book Value of $149.03 per share, with analysts expecting an average Return on Equity of 17.18%. Against an implied Cost of Equity of $11.85 per share, that leaves an Excess Return of $13.75 per share, which is what drives most of the intrinsic value. On these assumptions, the Excess Returns model points to an intrinsic value of about $460.81 per share, which is roughly 25.6% above the current share price, so the stock screens as undervalued. The recent record $21.2b Q2 profit, supported by strong trading and investment banking, helps explain why the model can support such a high earnings base, even as management continues to flag macro and market risks. Taken together, the Excess Returns work suggests JPMorgan Chase looks undervalued relative to the earnings power implied by its current and projected returns on equity. Story Continues Our Excess Returns analysis suggests JPMorgan Chase is undervalued by 25.6%. Track this in your watchlist or portfolio, or discover 44 more high quality undervalued stocks.JPM Discounted Cash Flow as at Jul 2026 Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for JPMorgan Chase. Is JPMorgan Chase Fairly Priced on Earnings? P/E works well for JPMorgan Chase because earnings are a key focus for bank investors. The stock currently trades on a P/E of 16.0x, compared with about 12.2x for the wider Banks industry and a peer average of 14.3x, so investors are paying a clear premium to the sector. The fair P/E ratio implied by the model is 15.7x, only slightly below where JPMorgan Chase trades today. That small gap suggests the current valuation is broadly in line with what you might expect once size, profitability profile and risk factors are taken into account, even after the strong Q2 profit headline. On balance, JPMorgan Chase looks priced roughly fairly on its P/E multiple rather than clearly cheap or expensive.NYSE:JPM P/E Ratio as at Jul 2026 See what the numbers say about this price — find out in our valuation breakdown. The JPMorgan Chase Narrative: What Would Justify Today's Price? Simply Wall St Narratives pick up where the earlier valuation work on JPMorgan Chase leaves off. They spell out which paths for growth, margins and earnings would need to play out for the stock to be worth materially more or less than it is today on the market. Rather than stopping at a single model output, each narrative sets out the assumptions behind its fair value so you can revisit them against JPMorgan Chase's reported results over time on the Community page. The community is split on JPMorgan Chase, with one camp focused on upside from technology and payments growth and the other focused on credit costs and regulation. Bull case: 11% undervalued "The firm's first-mover advantage in tokenized deposits, stablecoins, and blockchain-based payments creates the foundation for new high-margin revenue streams and fintech partnerships." Read the full Bull Case to see why JPMorgan Chase could be undervalued Bear case: 15% overvalued "JPMorgan Chase's increase in allowance for credit losses to $27.6 billion, driven by heightened downside risks and elevated weighted average unemployment rate projections, suggests challenges ahead." Read the full Bear Case to see why JPMorgan Chase could be overvalued Do you think there's more to the story for JPMorgan Chase? Head over to our Community to see what others are saying! The Bottom Line For JPMorgan Chase, the Excess Returns intrinsic value estimate points to meaningful undervaluation, while the P/E work suggests the stock is priced about right relative to peers. That gap largely reflects a model that leans on sustained return on equity and cash generation versus a market view that already pays a premium for the bank's scale and earnings profile. With broader valuation checks scoring weakly, the key question is whether JPMorgan Chase's profitability and risk management justify treating the apparent discount as an opportunity or whether the market is correctly pricing in macro and regulatory pressures from here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include JPM. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com View Comments
July Harvard Caps / Harris Poll: Trump Approval Sees No Change at 42% with Inflation Still Top Concern
CONGRESSIONAL HORSERACE TIED AT 50-50 73% OF VOTERS SUPPORT U.S. MILITARY AND ECONOMIC FORCE IF IRAN DOES NOT GIVE UP CONTROL OF THE STRAIT OF HORMUZ 78% OF VOTERS FAVOR FREE ENTERPRISE OVER SOCIALISM BUT A MAJORITY HOLDS THE MISCONCEPTION THAT RIGHTS, BUSINESS, AND HOME OWNERSHIP ARE GUARANTEED UNDER SOCIALISM 50% OF VOTERS BELIEVE PRICE INCREASES CAUSED BY TENSIONS WITH IRAN WILL BE SHORT-TERM, AN 8-PT. IMPROVEMENT FROM MAY 69% OF VOTERS SUPPORT MEDICARE FOR ALL 82% OF VOTERS SAY AI HAS SOCIAL DANGERS, CITING JOB LOSS AND POWER USAGE AS TOP CONCERNS TWO-THIRDS OF VOTERS SAY THE U.S. SHOULD SLOW DOWN ON AI DEVELOPMENT, WITH 53% MORE LIEKLY TO SUPPORT CANDIDATES WHO FAVOR A SLOWDOWN 74% OF VOTERS ARE PROUD TO BE AN AMERICAN TODAY, WITH THREE-QUARTERS OF AMERICANS SAYING THEY ARE LIVING OR WILL ACHIEVE THE AMERICAN DREAM NEW YORK AND CAMBRIDGE, MA / ACCESS Newswire / July 14, 2026 / Stagwell (NASDAQ:STGW) today released the results of the July Harvard CAPS / Harris poll, a monthly collaboration between the Center for American Political Studies at Harvard (CAPS) and the Harris Poll and HarrisX. President Donald Trump's approval rating is at 42%. His job approval is highest on immigration (49%) and fighting crime (47%); and lowest on handling inflation (35%) and managing the Iran conflict (38%). This month's poll also covered public opinion on the economy, midterms, socialism, healthcare, AI, the Supreme Court, sentiments toward America and American identity, and conflicts in the Middle East. Download the key results here. "Trump's approval continues to be flat as voters want to see an end to inflation," said Mark Penn, Co-Director of the Harvard CAPS / Harris poll and Stagwell Chairman and CEO. "Meanwhile, on the country's 250th anniversary, most voters are proud to be American, see freedom as a defining value, and favor free enterprise - but they hold misconceptions that those rights are guaranteed under socialism." ECONOMY AND INFLATION REMAIN TOP PRIORITIES FOR VOTERS 35% of voters say the U.S. is on the right track, and 33% say the same about the U.S. economy. Of key institutions, voters have the most favorable view of the U.S. military (+58 net favorable) and the United States (+56), and the least favorable view of communism (-55), and Iran (-51). Inflation and the economy remain voters' top concerns, though inflation ticked down in salience (-4 pts., May 2026) as did the U.S.-Iran conflict (-4) and the federal budget deficit (-3). Race relations ticked up in salience (+3). Story Continues MORE VOTERS BELIEVE IRAN-INDUCED INFLATION IS TEMPORARY BUT STILL THINK IT IS ABOVE 3 PERCENT 50% of voters say the economy is better today than it was when Biden was president (+6). 50% of voters believe price increases caused by tensions with Iran will be short-term and come back down quickly (+8). 67% of voters say the U.S. should prioritize energy independence to avoid global price shocks (-6). 58% of voters believe the economy is shrinking, while 77% of voters think inflation is above 3 percent a year. MAJORITY OF TRUMP POLICIES CONTINUE TO SEE STRONG SUPPORT INCLUDING VOTER ID REQUIREMENTS AMONG THE MOST SUPPORTED 11 out of 13 key Trump policy positions continue to see majority support. His most popular policies are lowering prescription drug prices (86% support), deporting illegal immigrants who have committed crimes (79%), and requiring proof of citizenship to vote (70%). Trump's least popular policy positions include placing a 15% tariff on imports from all countries (39%), eliminating mail-in voting (49%), and deporting all illegal immigrants (55%). CONGRESSIONAL HORSERACE AT A TIE WITH HARRIS AND VANCE LOSING GROUND BUT STILL THE FRONTRUNNERS FOR 2028 PRESIDENTIAL ELECTION 70% of voters say they are planning to vote in the upcoming 2026 Congressional midterm elections (-3, May 2026; Democrats: 63%; Republicans: 59%; Independents: 37%) The horserace is split 50-50 among general voters, with Democrats holding a 2-pt. lead among likely midterm voters. 68% of voters have thought about the upcoming 2028 presidential election. Kamala Harris (-7) and J.D. Vance (-3) remain the most favored candidates for president among voters from their respective parties. MOST VOTERS FAVOR FREE ENTERPRISE OVER SOCIALISM AND DID NOT BELIEVE GRAHAM PLATNER WAS A QUALIFIED CANDIDATE 78% of voters say we are better off with free enterprise instead of socialism. 83% say the future of the country should continue to be a mix of capitalism with social welfare programs rather than a fully socialist system, including a majority across political parties. Large majorities of voters prefer a system of government where people can start their own businesses (88%), own homes (88%), earn money based on merit and work (88%), and practice their freedom of speech and religion rights as citizens without them being taken away (77%). 79% of voters personally feel they live in a country that rewards hard work with opportunity. A majority of voters believe that under socialism, people can own homes (60%), businesses (57%), and practice freedom of religion and speech rights (59%). 62% of voters think socialism in other countries has mostly devolved into harsh dictatorships (Democrats: 51%; Republicans: 68%; Independents: 65%). 66% of voters believe Graham Platner was an unqualified candidate for the U.S. Senate, including a majority across political parties. 74% of voters believe supporting candidates with Nazi tattoos is evidence of antisemitism. MAJORITY OF VOTERS SUPPORT MEDICARE FOR ALL DESPITE BEING SATISFIED WITH THEIR OWN COVERAGE RIGHT NOW 69% of voters support Medicare for All, including a majority across political parties. 58% of voters believe all healthcare is paid for by the government under Medicare for All but 57% believe private insurers would still exist. 42% of voters believe medical care will get worse if the government pays for health insurance, while 38% say it will improve. 58% of voters say the current Medicare system is working, and 55% say the same about Medicaid. 78% of voters approve of Medicare Advantage accounts. 72% of voters say they are personally happy with their coverage, including a majority across political parties. MORE THAN HALF OF AMERICANS USE AI DAILY BUT MANY ARE CONCERNED ABOUT NEGATIVE SOCIAL IMPACTS, CALLING FOR A SLOWDOWN IN AI DEVELOPMENT 57% of voters say they personally use AI, with 56% of AI users using it daily. Voters are split 50-50 on whether they find AI amazing, but 67% say we need to slow down the rush on AI, including a majority across political parties. 68% of voters say the U.S. should slow down AI development until there are stronger safeguards in place. 60% of voters say AI is a huge advancement. 57% say it is more likely AI will degrade society and create mass unemployment than create added value and productivity. Job loss (41%) and power usage (30%) are viewed as the primary dangers. 56% of employed voters believe their employment is currently not at risk from AI and automation. 62% of voters say data centers use too much energy and water and provide too few benefits to local communities, including a majority across political parties. 53% of voters say they would oppose a data center in their own neighborhood (Support: 25%), and the same share say such a facility should not be allowed near them even if the company provides local jobs, benefits, and protections. 53% of voters, a plurality, say they are more likely to support a candidate who supports slowing down on AI development (No impact: 31%; Less likely: 15%). VOTERS TRUST SUPREME COURT TO UPHOLD THE CONSTITUTION EVEN WHEN THEY DON'T FAVOR ITS DECISIONS 79% of voters say the Supreme Court should defend the Constitution regardless of public opinion. 66% of voters favor the Supreme Court's decision to uphold birthright citizenship (Democrats: 83%; Republicans: 48%; Independents: 68%). 67% believe it followed the Constitution and law, including a majority across political parties. 63% of voters favor the ruling that states should decide their own mail-in ballot rules. 52% of voters favor the ruling that the President may hire and fire commissioners to agencies at will, with 57% believing it followed the law. 65% of voters favor the ruling that the Federal Reserve is an exception to general rule and members can only be removed for cause. 51% of voters oppose the ruling that state legislatures are allowed to redraw districts, with 57% believing it followed the law. 76% of voters favor the ruling that race cannot be taken into account when making congressional districts. MOST VOTERS PROUD TO BE AMERICAN TODAY, CHAMPIONING FREEDOM AS A DEFINING VALUE AND SOURCE OF PRIDE 74% of voters are proud to be an American today, including a majority across political parties. Freedom (75%) and peace (59%) are the most defining American values for voters across political party lines. Views differ on the importance of equality, democracy, patriotism, and diversity as American values. Freedom and rights (69%) is the strongest source of American pride among voters, with democracy (47%) as the second-highest ranking quality. Voters say healthcare costs (52%), gun violence (48%), and lack of affordable housing (46%) are the top three worst parts about living in America. 75% of voters believe they are living or will achieve the American Dream, including a majority across political parties. 51% of voters believe America should be proud of where it is as a country today. But 61% believe America's best days are ahead (Democrats: 50%; Republicans: 75%: Independents: 56%). 67% of voters say the U.S. is the greatest country in the world, including a majority across political parties. U.S.-IRAN MOU VIEWED AS A WIN FOR AMERICA BUT A MAJORITY BELIEVES IRAN IS IN VIOLATION OF THE TERMS 69% of voters say they are following developments in the U.S., Israel, and Iran conflict closely, including a majority across political parties and age groups. 50% have heard of the U.S.-Iran memorandum of understanding (MOU) signed on June 17. 65% of voters believe the terms of the MOU are better for the U.S., with 71% viewing it as about the same or better than the 2015 Iran Deal. 70% of voters believe Iranians are working to buy time, not serious with their negotiations. 66% believe they are in violation of the terms in the MOU. 68% of voters say Iran should not be allowed to control the Strait of Hormuz. 73% say the U.S. should resume use of force, sanctions, and blockades if Iran does not give up control of the Strait. 61% of voters say U.S. military response to Iran firing on commercial ships was justified, including a majority across political parties. 64% believe the U.S. has the upper hand in negotiations. 51% of voters oppose Trump's handling of the Iran conflict so far. 41%, a plurality, say his handling of the conflict makes them more likely to vote Democrat in the upcoming midterm elections (+2). MAJORITY OF VOTERS CONTINUE TO SUPPORT ISRAEL OVER HAMAS; BELIEVE TERRORIST GROUPS ARE ACTIVELY TRYING TO DESTROY IT 73% of voters continue to support Israel over Hamas. 77% of voters believe there are terrorist groups on the borders of Israel today, including a majority across political parties and age groups. 43%, a plurality, believe the groups are trying to destroy Israel. 70% of voters say Hezbollah should be required to disarm as part of a long-term peace agreement between Israel and Lebanon. 76% of voters say Israel has a right to exist as the Jewish homeland, and 56% believe Israel should be defined as a Jewish state. Israel is viewed most favorably among key Middle East countries (49%), while Iran is viewed least favorably (54%). The July Harvard CAPS / Harris poll survey was conducted online within the United States on July 11-12, 2026, among 1,776 registered voters by The Harris Poll and HarrisX. About The Harris Poll & HarrisX The Harris Poll is a global consulting and market research firm that strives to reveal the authentic values of modern society to inspire leaders to create a better tomorrow. It works with clients in three primary areas: building twenty-first-century corporate reputation, crafting brand strategy and performance tracking, and earning organic media through public relations research. One of the longest-running surveys in the U.S., The Harris Poll has tracked public opinion, motivations, and social sentiment since 1963, and is now part of Stagwell, the challenger holding company built to transform marketing. HarrisX is a technology-driven market research and data analytics company that conducts multi-method research in the U.S. and over 40 countries around the world on behalf of Fortune 100 companies, public policy institutions, global leaders, NGOs and philanthropic organizations. HarrisX was the most accurate pollster of the 2020 U.S. presidential election. About the Harvard Center for American Political Studies The Center for American Political Studies (CAPS) is committed to and fosters the interdisciplinary study of U.S. politics. Governed by a group of political scientists, sociologists, historians, and economists within the Faculty of Arts and Sciences at Harvard University, CAPS drives discussion, research, public outreach, and pedagogy about all aspects of U.S. politics. CAPS encourages cutting-edge research using a variety of methodologies, including historical analysis, social surveys, and formal mathematical modeling, and it often cooperates with other Harvard centers to support research training and encourage cross-national research about the United States in comparative and global contexts. More information at https://caps.gov.harvard.edu/. Contact: Carrie Hsu pr@stagwellglobal.com SOURCE: Stagwell View the original press release on ACCESS Newswire View Comments
Busey, Dukeman Agree to Contract Extension
First Busey Corporation Longtime Busey Chairman & CEO to Remain Through July 2029 LEAWOOD, Kan., July 14, 2026 (GLOBE NEWSWIRE) -- First Busey Corporation (FBC) announced on Tuesday, July 14 that Chairman, President and CEO Van Dukeman will continue to lead the company and Busey Bank as CEO through July 1, 2029, per a letter agreement with the company. Dukeman will also continue to serve as Chairman and President of FBC, and as Chairman of the board of directors of Busey Bank. The contract extension formally reaffirms Dukeman's commitment to Busey and continuing to earn the right to keep the organization independent. "This is an incredibly exciting time for our company," Dukeman said of his decision to extend his term as Chairman and CEO with Busey. "Profitability is strong with our hallmark, quality balance sheet, valuable core deposit franchise and wealth management practice along with a disciplined relationship banking strategy. We are laser focused on executing our go-to-market strategy through our unique regional operating model, with a demonstrated commitment to Busey's diverse geographic footprint that includes 80 locations across 10 states." Dukeman has led Busey since 2007 when he was named President and CEO following the merger of equals with Main Street Bank and Trust, where he served as President and CEO from 1998 to the time of the Busey merger—in sum over 28 years as the CEO. Under his leadership, Busey has grown from $4 billion to more than $18 billion in assets over the last two decades through organic growth and by executing on a sequence of nine strategic acquisitions—resulting in transformational, intentional growth for Busey's banking and wealth management services. Under Dukeman's direction, Busey has built a full-scale commercial bank with a powerful combination of banking, wealth management and payments offerings—providing a full suite of financial solutions and nearly 1,900 dedicated associates serving Busey's valued clients. Pursuant to the letter agreement, upon the end of his tenure as CEO, Dukeman will retain at least 300,000 shares of FBC's common stock for a two-year period. "We have a best-in-class executive management team that lead and implement priority projects across the franchise," Dukeman said. "Our board of directors and I have the utmost confidence in this team, their ability to lead and dedication to this great organization. Viable internal succession options exist with several executive team members able to step in when the time for leadership transition eventually arrives. I will continue to work together with all of them to ensure this company remains Busey well into the future." Story Continues Corporate Profile As of March 31, 2026, First Busey Corporation (Nasdaq: BUSE) was an $18.04 billion financial holding company headquartered in Leawood, Kansas. Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $18.01 billion as of March 31, 2026. Busey Bank currently has 80 banking centers, with 21 in central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, four in the Dallas-Fort Worth Metropolitan Statistical Area, three in the Kansas City Metropolitan Statistical Area, three in southwest Florida, three in Oklahoma, three in Colorado, three in Arizona, one in Indianapolis, Indiana, one in Wichita, Kansas, and one in Clayton, New Mexico. More information about Busey Bank can be found at busey.com. Through Busey's Wealth Management division, the Company provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $15.65 billion as of March 31, 2026. More information about Busey's Wealth Management services can be found at busey.com/wealth-management. Busey Bank's payment technology solutions specialize in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. Busey provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, Busey simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. Busey is honored to be consistently recognized as an outstanding financial services organization with an engaged culture of integrity and commitment to community development. Nationally, AmericanBanker named Busey a Best Bank to Work For since 2016 while PensionsandInvestments has recognized us a Best Place to Work in Money Management since 2018. At the local level, Busey is continually honored among the Best Places to Work in Illinois (since 2016), Best Companies to Work For in Florida (since 2017) and Best Places to Work in Indiana (since 2024). CONTACT: Kristen Bosch 217.365.4721 kristen.bosch@busey.com View Comments
Busey, Dukeman Agree to Contract Extension
LEAWOOD, Kan., July 14, 2026 (GLOBE NEWSWIRE) -- First Busey Corporation (FBC) announced on Tuesday, July 14 that Chairman, President and CEO Van Dukeman will continue to lead the company and Busey Bank as CEO through July 1, 2029, per a letter agreement with the company. Dukeman will also continue to serve as Chairman and President of FBC, and as Chairman of the board of directors of Busey Bank. The contract extension formally reaffirms Dukeman’s commitment to Busey and continuing to earn the right to keep the organization independent. “This is an incredibly exciting time for our company,” Dukeman said of his decision to extend his term as Chairman and CEO with Busey. “Profitability is strong with our hallmark, quality balance sheet, valuable core deposit franchise and wealth management practice along with a disciplined relationship banking strategy. We are laser focused on executing our go-to-market strategy through our unique regional operating model, with a demonstrated commitment to Busey’s diverse geographic footprint that includes 80 locations across 10 states.” Dukeman has led Busey since 2007 when he was named President and CEO following the merger of equals with Main Street Bank and Trust, where he served as President and CEO from 1998 to the time of the Busey merger—in sum over 28 years as the CEO. Under his leadership, Busey has grown from $4 billion to more than $18 billion in assets over the last two decades through organic growth and by executing on a sequence of nine strategic acquisitions—resulting in transformational, intentional growth for Busey’s banking and wealth management services. Under Dukeman’s direction, Busey has built a full-scale commercial bank with a powerful combination of banking, wealth management and payments offerings—providing a full suite of financial solutions and nearly 1,900 dedicated associates serving Busey’s valued clients. Pursuant to the letter agreement, upon the end of his tenure as CEO, Dukeman will retain at least 300,000 shares of FBC’s common stock for a two-year period. “We have a best-in-class executive management team that lead and implement priority projects across the franchise,” Dukeman said. “Our board of directors and I have the utmost confidence in this team, their ability to lead and dedication to this great organization. Viable internal succession options exist with several executive team members able to step in when the time for leadership transition eventually arrives. I will continue to work together with all of them to ensure this company remains Busey well into the future.” Corporate Profile As of March 31, 2026, First Busey Corporation (Nasdaq: BUSE) was an $18.04 billion financial holding company headquartered in Leawood, Kansas. Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $18.01 billion as of March 31, 2026. Busey Bank currently has 80 banking centers, with 21 in central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, four in the Dallas-Fort Worth Metropolitan Statistical Area, three in the Kansas City Metropolitan Statistical Area, three in southwest Florida, three in Oklahoma, three in Colorado, three in Arizona, one in Indianapolis, Indiana, one in Wichita, Kansas, and one in Clayton, New Mexico. More information about Busey Bank can be found at busey.com. Through Busey’s Wealth Management division, the Company provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $15.65 billion as of March 31, 2026. More information about Busey’s Wealth Management services can be found at busey.com/wealth-management. Busey Bank’s payment technology solutions specialize in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. Busey provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, Busey simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. Busey is honored to be consistently recognized as an outstanding financial services organization with an engaged culture of integrity and commitment to community development. Nationally, AmericanBanker named Busey a Best Bank to Work For since 2016 while PensionsandInvestments has recognized us a Best Place to Work in Money Management since 2018. At the local level, Busey is continually honored among the Best Places to Work in Illinois (since 2016), Best Companies to Work For in Florida (since 2017) and Best Places to Work in Indiana (since 2024). CONTACT: Kristen Bosch 217.365.4721 kristen.bosch@busey.com
AI's Top Companies Keep Paying Each Other. Analysts Want to Know Why.
Baltimore, MD, July 14, 2026 (GLOBE NEWSWIRE) -- When one company invests in another, it usually means something simple. It sees a business worth backing. But across the AI industry, a stranger pattern has taken hold. The biggest names in AI are increasingly putting money into each other, and in many cases, the companies getting that money turn around and spend it right back with the companies that gave it to them. In a new free presentation, economist and former government advisor Jim Rickards says this pattern may be one of the most overlooked parts of the entire AI boom. To Rickards, the question isn't whether these companies are spending. It's whether all that spending reflects real, outside demand, or something closer to money moving in a circle. A chipmaker takes a large stake in an AI startup. That startup then uses the money to buy the chipmaker's chips. A cloud company funds a model builder's expansion. That model builder then pays the cloud company to run its systems. Each deal, on its own, can look like healthy growth. Seen together, Rickards says, they raise a harder question. Money That Circles Back On the surface, these arrangements look like ordinary investment. A big company sees promise in a smaller one and backs it. But when the money keeps flowing between the same handful of players, the picture gets murkier. If a company helps fund the very customers who then buy its products, some of that "demand" may not be coming from the outside world at all. It may be coming from the company itself. Rickards says that distinction matters more than most investors realize. The Question Beneath the Deals None of this means the companies involved are doing anything improper. Investing in partners and customers is a long accepted business practice. But the scale is what has caught the attention of analysts. The concern is fairly straightforward. When the same dollars appear to move between a small group of companies, it can make demand for AI look larger and more durable than it truly is. And if that demand turns out to be thinner than it appears, the companies counting on it, and the investors counting on those companies, could be caught off guard. Rickards believes this is exactly the kind of detail that gets ignored while the headlines stay focused on breakthroughs and record valuations. Why Investors Should Care Much of the AI story rests on a single belief: that demand for these products is real, growing, and here to stay. Today's stock prices assume it. Today's spending depends on it. Rickards says investors should look closely at where that demand is actually coming from. If a meaningful share of it is being funded by the sellers themselves, the true strength of the market may be harder to judge than the numbers suggest. That doesn't mean AI is going away. But it could change how quickly these investments turn into the lasting profits Wall Street is expecting. What July 29 Could Reveal Rickards keeps circling back to one date. Around July 29, many of the largest AI companies will report their latest results. Buried in those reports, he says, are the details that matter most: who is actually paying, how much of the revenue comes from genuine outside customers, and how much of the spending is tied up between the same familiar names. For Rickards, those numbers could offer one of the clearest looks yet at whether the demand behind AI is as solid as the market believes. A Free Presentation Jim Rickards walks through all of this in a new free online presentation, available now HERE. He explains why the money moving between AI's biggest companies deserves closer attention, why he believes real demand is the question investors should be asking, and why the coming weeks could tell us far more about the health of the AI boom than another round of product launches. About Jim Rickards Jim Rickards is an economist and investment strategist who has spent decades studying how money moves through the financial system, especially during times of rapid change. He has advised the U.S. Treasury, the Department of Defense, and the U.S. intelligence community on economic and financial risk. His current work focuses on how the AI boom is reshaping markets and where it may take investors next. Paradigm Press is one of the largest independent financial research publishers in the United States, with a 4.8 star rating on Google from more than 1,900 reviews. It works to help everyday Americans understand the forces moving their wealth.
Citigroup Stock Up as Q2 Earnings Beat on Higher NII & Fee Income
Citigroup Inc. C reported second-quarter 2026 earnings per share of $3.15, which surpassed the Zacks Consensus Estimate of $2.72. In the prior-year quarter, the company reported earnings per share of $1.96. C shares rose nearly 1.8% in the early trading session. A full day's trading session will depict a clearer picture. The company's results benefited from a year-over-year rise in net interest income (NII) and growth across each of its five core businesses. Citigroup also registered a year-over-year increase of 44% in investment banking revenues and positive operating leverage. However, higher operating expenses and a weaker capital position acted as offsetting factors. Net income in the quarter was $5.8 billion, up 45.1% from the prior-year quarter. C's Revenues Increase, Expenses Rise Revenues, net of interest expenses, were $24.8 billion in the second quarter of 2026, up 14.3% year over year. The top line surpassed the Zacks Consensus Estimate by 4.6%. NII rose 12.8% year over year to $17.1 billion, while non-interest revenues increased 17.7% to $7.6 billion. Citigroup's operating expenses increased 4.7% year over year to $14.2 billion. The rise was driven by higher compensation and benefits, transactional and product servicing expenses, deposit insurance costs and the impact of foreign exchange translation, partly offset by lower professional services expenses. Citigroup's Segmental Performance In the Services segment, total revenues, net of interest expenses, were $6.4 billion, up 17.5% year over year. The increase reflected growth in Treasury and Trade Solutions and Securities Services. The Markets segment's revenues increased 17.2% year over year to $7 billion, driven by growth in Fixed Income and Equity markets revenues. Banking revenues were $1.9 billion, up 34% year over year, primarily driven by a rise in Investment Banking revenues. Debt Capital Markets revenues rose 65% and Equity Capital Markets revenues surged 92%, while Advisory revenues declined 4%. In the Wealth segment, revenues were $3.2 billion, rising 12.9% year over year. The increase was driven by growth across Citigold and Retail Banking, the Private Bank and Wealth at Work. U.S. Consumer Cards revenues were $4.5 billion, up 1.1% year over year, driven by higher NII on increased interest-earning balances, largely offset by lower non-interest revenues. In the All Other segment, on a managed basis, revenues were $1.7 billion, up 1.2% year over year. C's Balance Sheet Position Solid At the end of the second quarter of 2026, the company's deposits rose 3.2% from the prior quarter to $1.49 trillion. Its loans also increased 4.2% on a sequential basis to $793.6 billion. Story Continues Citigroup's Credit Quality Total non-accrual loans decreased 3.7% year over year to $3.2 billion. Total allowance for credit losses was $22.2 billion at the quarter-end, down from $23.7 billion in the prior-year period. Provisions for credit losses and benefits, and claims were $2.5 billion in the quarter, down 12.2% year over year. C's Capital Position Weak At the end of the second quarter of 2026, Citigroup's Common Equity Tier 1 capital ratio was 12.8%, down from 13.5% in the second quarter of 2025. The company's supplementary leverage ratio in the reported quarter was 5.2%, down from the prior-year quarter's 5.5%. Citigroup's Capital Deployment During the quarter, Citigroup returned nearly $5 billion to common shareholders through share repurchases and dividends. Our Viewpoint on C Citigroup's second-quarter 2026 results reflected broad-based business strength, supported by higher NII, solid fee momentum, and positive operating leverage. Growth across Services, Markets, Banking, Wealth and U.S. Consumer Cards was encouraging. Yet, elevated expenses and pressure on capital ratios remain watch points. The company completed the sale of its Consumer Banking business in Poland and 22.6% of its 24% equity stake in Banamex during the quarter. The company's continued investments, disciplined execution, and focus on its five interconnected businesses are expected to support its performance. Citigroup Inc. Price, Consensus and EPS SurpriseCitigroup Inc. Price, Consensus and EPS Surprise Citigroup Inc. price-consensus-eps-surprise-chart | Citigroup Inc. Quote Currently, Citigroup carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Earnings Dates & Expectations of Other Banks M&T Bank MTB is slated to report second-quarter 2026 numbers on July 15. Over the past week, the Zacks Consensus Estimate for M&T Bank's quarterly earnings has remained unchanged at $4.66 per share. This indicates a 8.9% rise from the prior-year quarter's reported figure. U.S. Bancorp USB is scheduled to release second-quarter 2026 earnings on July 16. The Zacks Consensus Estimate for U.S. Bancorp's quarterly earnings has been revised upward to $1.28 per share over the past seven days. This indicates a 15.3% rise from the prior-year quarter's actual. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Citigroup Inc. (C) : Free Stock Analysis Report U.S. Bancorp (USB) : Free Stock Analysis Report M&T Bank Corporation (MTB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments
Bank of America expects 2026 NII growth at the upper end of 6% to 8% while targeting 300 to 400 bps operating leverage
Earnings Call Insights: Bank of America (BAC) Q2 2026 MANAGEMENT VIEW * “Our revenue grew 15% year-over-year to $31.6 billion... Our EPS increased 34% to $1.21 a share.” (Chairman & CEO Brian Moynihan) * “On an FTE basis, NII was approximately $16.2 billion, up 9% over last year's second quarter... Investment banking fees increased 50% year-over-year to more than $2.1 billion, while sales and trading generated $7.2 billion in revenue, up 33%.” (CEO Moynihan) * “We've returned $8 billion to you through dividends and share repurchases this quarter... a common equity Tier 1 ratio of 11.2%.” (CEO Moynihan) * “Our associates are generating more than 400,000 prompts a day... we had over 300 AI use cases approved... 114 are live generative AI use cases. 34 of those cases are fully implemented.” (CEO Moynihan) * “Average deposits were $2.02 trillion... included noninterest-bearing growth of $19 billion... Average loans and leases increased to $1.2 trillion, up $88 billion or 8% from a year ago.” (Executive VP & CFO Alastair Borthwick) OUTLOOK * “We now expect full year 2026 NII growth to be at the upper end of that 6% to 8% range... and it's based on the current forward curve, which has one 25-basis point rate hike in September.” (CFO Borthwick) * “On our first quarter earnings call in April, we told you we expected full year operating leverage of more than 200 basis points... we now expect full year operating leverage to be in the range of 300 to 400 basis points.” (CFO Borthwick) * Versus the prior quarter’s messaging, management moved from “we continue to expect more than 200 basis points of positive operating leverage for the year” (CFO Borthwick, Q1) to a tighter numerical range of “300 to 400 basis points” (CFO Borthwick, Q2). FINANCIAL RESULTS * The quarter’s key reported results included $31.6 billion revenue, $9.1 billion net income, and $1.21 EPS, alongside “return on tangible common equity of 17%” and an “efficiency ratio improved to 59%.” (CEO Moynihan) * “Noninterest expense... approximately $18.6 billion” with the year-over-year increase reflecting “continued investment in technology, sales teams, financial centers and brand marketing” and “higher activity-related costs... particularly in our overseas markets.” (CFO Borthwick) * Credit metrics were described as stable: “Provision expense was approximately $1.4 billion, net charge-offs were also $1.4 billion... Nonperforming loans remained stable at approximately $5.8 billion, and we recorded a modest reserve release.” (CFO Borthwick) Q&A * Christopher McGratty, KBW: asked about deposit pricing discipline and NII momentum; CFO Borthwick said, “our strategy is about relationship value,” adding, “We've got $800 billion of excess between our cash and securities over our loans.” * Christopher McGratty, KBW: asked about AI and operating leverage sustainability; CFO Borthwick pointed to “growth, efficiency, risk management and resiliency,” and said, “at this point, we've got... approved model cases... 300... 114.” * Kenneth Usdin, Autonomous: pressed on tougher 2H comps and what it implies for operating leverage; CFO Borthwick said, “we're offering the 300 to 400,” and cited comparability issues around last year’s second-half NII lift and industry investment banking levels. * Manan Gosalia, Morgan Stanley: asked whether rate changes could alter the NII guide; CFO Borthwick said, “net-net-net, it's a positive for us,” while noting markets is “slightly liability sensitive.” * Benjamin Gerlinger, Citi: asked whether the higher-end NII view assumes mix/productivity changes; CFO Borthwick said the guide assumes “modest deposit growth,” “good continued loan growth,” plus “fixed rate asset repricing,” and framed balance sheet efficiency as “more about net interest yield and less about NII.” * L. Erika Penala, UBS: questioned why NII growth would slow from the first-half pace; CFO Borthwick said, “we're just up against tougher comps,” adding, “it looks to us like more like 8% for the full year just based on the comps.” * Michael Mayo, Wells Fargo: asked why operating leverage guidance rose and requested expense guidance; CFO Borthwick said, “No, we've largely gone away from that,” and pointed to core “headcount discipline... flat to slightly down.” * Gerard Cassidy, RBC: asked about underwriting/credit risk; CEO Moynihan said, “we stick to our credit knitting,” while adding, “It's all going to come down to the economy.” * Matthew O'Connor, Deutsche Bank: asked for NII “ex markets”; CFO Borthwick said he would help “offline,” and added, “markets NII... will be flat to slightly down... most all of the growth is going to come from the Global Banking books.” SENTIMENT ANALYSIS * Analysts were slightly skeptical/pressing on sustainability and drivers, including “tougher comps” (Kenneth Usdin, Autonomous) and requests to decompose NII (“What is that ex markets?”) (Matthew O'Connor, Deutsche Bank). * Management tone was confident in prepared remarks and generally steady in Q&A, using phrases such as “We now expect” (CFO Borthwick) and “we feel very good” (CEO Moynihan on pipelines/returns), with occasional caution that external events “could affect... IPOs, et cetera.” (CEO Moynihan). * Compared to Q1’s emphasis on resilience and discipline, Q2 leaned more into outperformance language (“extending our momentum,” “exceptional quarter”) (CEO Moynihan) and a higher operating leverage outlook (“300 to 400 basis points”) (CFO Borthwick). QUARTER-OVER-QUARTER COMPARISON * Q2 reported faster year-over-year growth than Q1, with Q1 stating “Revenue grew 7% year-over-year to $30.3 billion... Earnings per share... $1.11” (CEO Moynihan, Q1) versus Q2’s $31.6 billion revenue and $1.21 EPS (CEO Moynihan, Q2). * NII guidance language in Q2 shifted higher in confidence: Q1 said, “we're raising our full year NII growth guidance range... up 6% to 8%” (CFO Borthwick, Q1), while Q2 said, “We now expect... at the upper end of that 6% to 8% range.” (CFO Borthwick, Q2). * Q2 introduced substantially expanded AI adoption disclosure (prompts per day, approved and live use cases) (CEO Moynihan), while Q1 emphasized broad availability (“all 200,000 teammates have access to AI”) and “90 installations working.” (CEO Moynihan, Q1). RISKS AND CONCERNS * Management flagged macro risks: “inflation and tighter monetary policy remain key risks,” and markets uncertainty tied to geopolitics: “we can't predict what will happen next and that could affect the market's perception, IPOs, et cetera.” (CEO Moynihan) * On NII sensitivity and mix, management highlighted that Global Markets NII could be an offset in rate shifts: “the markets business is slightly liability sensitive. So that's a slight offset.” (CFO Borthwick) * Credit was framed as stable but with “some isolated corporate and commercial lending losses,” even as “CRE improvement” was cited as a driver of better criticized exposures. (CFO Borthwick) FINAL TAKEAWAY Management described Q2 as broad-based strength across NII, fees, and operating leverage, while raising its operating leverage outlook to 300 to 400 basis points and positioning full-year 2026 NII growth toward the upper end of 6% to 8%. Leadership emphasized deposit mix discipline, continued loan growth, stable credit, and accelerating AI deployment metrics (approved and live use cases and employee usage) as supporting productivity and client execution, while noting that inflation, monetary policy, and geopolitical-driven market conditions remain key variables. Read the full Earnings Call Transcript [https://seekingalpha.com/symbol/bac/earnings/transcripts] MORE ON BANK OF AMERICA * Bank of America Corporation (BAC) Q2 2026 Earnings Call Transcript [https://seekingalpha.com/article/4921951-bank-of-america-corporation-bac-q2-2026-earnings-call-transcript] * Bank of America: Path To $70 [https://seekingalpha.com/article/4921978-bank-of-america-path-to-70] * Bank of America Corporation 2026 Q2 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4921913-bank-of-america-corporation-2026-q2-results-earnings-call-presentation] * Bank of America Q2 earnings reflect resilient consumer and rebounding Wall Street [https://seekingalpha.com/news/4613500-bank-of-america-q2-earnings-reflect-resilient-consumer-and-rebounding-wall-street] * Bank of America GAAP EPS of $1.21 beats by $0.09, revenue of $31.6B beats by $830M [https://seekingalpha.com/news/4613489-bank-of-america-gaap-eps-of-1_21-beats-by-0_09-revenue-of-31_6b-beats-by-830m]
Buchanan Capital Partners Forms Seconds Joint Venture with the Industrial Team at Crow Holdings Development
AUSTIN, Texas, July 14, 2026 /PRNewswire/ -- Buchanan Capital Partners ("BCP"), an Austin-based, zero-fee commercial real estate investment firm, announced its recent capitalization of a 397,556 SF industrial development in the Northwest Atlanta / I-75 North Corridor of Georgia. The project, "Cass White Business Center," will be developed by Dallas-based Crow Holdings Development ("CHD") and marks BCP's second joint-venture with the prominent developer, following the firms' first venture at Rock Creek Center near Greensboro, North Carolina.Cass White Business Center Strategically located along the I-75 North corridor in Bartow County midway between Atlanta and Chattanooga, Cass White Business Center is well positioned to benefit from the region's accelerating growth, highlighted by the nearby ~$5 billion Hyundai Motor Group and SK On EV battery plant and Hanwha Qcells' $2.5 billion Georgia solar manufacturing expansion, which includes its new Cartersville facility. The site offers dual access to Interstate 75 and Georgia Highway 411 and sits within one of the Southeast's most active freight corridors, with proximity to the inland Appalachian Regional Port and its direct rail connection to the Port of Savannah. With Conlan Company as the General Contractor, CHD's industrial team will oversee and manage the development of the project. Nathan Anderson of NAI Brannen Goddard will lead leasing efforts. See marketing materials here: Cass White Business Center Flyer. "Cass White reflects our continued growth in industrial and our focus on partnering with best-in-class development partners like Crow Holdings Development's industrial team," said Keith Buchanan, Founder of BCP. "This marks our second joint venture with CHD and our first investment in the Atlanta market, and we look forward to strategically expanding our portfolio across one of the Southeast's strongest logistics corridors." "We were drawn to Cass White by the same fundamentals that guide all of our industrial investments," added Ford Albert, Director at BCP. "BCP will continue to grow its industrial presence through both direct acquisitions and JV developments that offer durable downside risk mitigants—strategic locations near significant job growth, favorable supply and demand dynamics, and a low-cost basis." This joint venture further expands BCP's industrial footprint across the Sun Belt and reinforces the firm's reputation as a leader in strategic, growth-oriented real estate investments that prioritize value creation and investor trust. Story Continues About Buchanan Capital Partners Buchanan Capital Partners, based in Austin, Texas, is a performance-based commercial real estate investment firm focused on delivering consistent, superior risk-adjusted returns. BCP charges no fees, and its investors are paid in full before the firm receives compensation. BCP pursues strategies including direct acquisitions across product types and providing joint venture equity for opportunistic investments. BCP's Principal has a proven 28-year track record of successful investing across all commercial real estate product types, primarily in major Texas metros. For more information about Buchanan Capital Partners, please visit www.buchanancp.com. About Crow Holdings Development Crow Holdings Development (CHD) is a leading real estate development company specializing in multifamily, industrial, and office development across high-opportunity markets in the United States. Led by a highly experienced leadership team, CHD has developed nearly 300,000 multifamily units since 1977 and more than 80 million square feet of industrial space since 2013 and is a subsidiary of Crow Holdings, a privately owned real estate investment and development firm with over 75 years of history, $35 billion of assets under management, and an established platform with a vision for continued success. The firm's ongoing legacy is rooted in its founding principles: partnership, collaboration, and alignment of interests. For more information, please visit www.crowholdings.com. Contact: Gentry Bowen gbowen@buchanancp.com 512-673-7375Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/buchanan-capital-partners-forms-seconds-joint-venture-with-the-industrial-team-at-crow-holdings-development-302825415.html View Comments
Stocks making the biggest moves midday: IBM, Goldman Sachs, CleanSpark, HCA Healthcare & more
Check out some of the companies making the biggest moves midday: CleanSpark — The digital infrastructure company surged 11% after securing a 20-year data center lease in Georgia, totaling $6.6 billion in contracted revenue . HCA Healthcare — The hospital operator fell more than 7% after lowering full-year earnings guidance. HCA now sees full-year earnings per share between $28.70 and $30.50, down from a previous forecast of $29.10 per share to $31.50 per share. HCA also lowered the top end of its 2026 revenue outlook range. JPMorgan Chase — The largest bank in the nation rose 2% after posting Q2 results. JPM earned $6.14 per share, excluding one-time items, on revenue of $58.02 billion. Analysts polled by LSEG expected a profit of $5.85 per share on revenue of $50.19 billion. Bank of America — Bank of America added 2% after beating expectations in the second quarter. The Charlotte, N.C.-based bank earned $1.21 per share, more than the $1.13 expected by analysts polled by LSEG. Revenue of $31.7 billion also exceeded the $30.72 billion consensus estimate. Wells Fargo — San Francisco-based Wells fell 3% after posting earnings of $2.00 per share on revenue of $22.62 billion. Analysts surveyed by LSEG were anticipating earnings of $1.72 per share on revenue of $21.84 billion. Goldman Sachs — The Wall Street investment bank jumped 7% after posting second-quarter earnings above exceeded estimates. Goldman earned $20.98 per share, more than the $14.48 LSEG consensus estimate. Revenue of $20.34 billion also topped the $16.13 billion expected. Citigroup — The bank fell 5% after logging its best quarterly revenue in a decade. Citigroup posted second- quarter earnings of $3.15 per share, more than the $2.74 expected by analysts surveyed by LSEG. Revenue of $24.77 billion also exceeded the anticipated $23.74 billion. Apple — The iPhone maker dipped 1% after KeyBanc downgraded Apple to underweight from sector weight, with a $250 price target implying 21% downside from Monday's close. The Wall Street firm expects Apple could come under pressure as customers tighten their purse strings in response to rising prices. IBM — The legacy tech giant plunged 25% after issuing weaker-than-expected preliminary Q2 earnings. IBM expects to report a profit of $2.93 per share, excluding certain items. Analysts polled by FactSet had expected a profit of $3.01 per share. O-I Glass — The old Owens-Illinois slumped 8% after a double downgrade to undeperform from buy at Bank of America, which cited a recent 20% rally, challenging glass demand, fewer benefits from restructuring, less improvement in Europe and currency headwinds. LM Ericsson — The Swedish networking and telecommunications provider that also trades in the U.S. dropped 13%. Ericsson posted disappointing revenue of 52.70 billion Swedish kronor, missing the consensus estimate of 53.94 billion, according to StreetAccount. Adjusted gross margin of 48.4% topped the 47.8% that was expected. MBX Biosciences — The clinical state biopharmaceutical tum,bled 8% after saying CEO Kent Hawryluk stepped down effective immediately and will be replaced by the current executive chairman Steve Hoerter. — CNBC's Sarah Min, Fred Imbert contributed reporting
SpaceX (SPCX): The Best Growth Stock With Highest Upside Potential
Space Exploration Technologies Corp. (NASDAQ:SPCX) is one of the 10 Best Growth Stocks With Highest Upside Potential. On July 9, 2026, Rocket One announced that it had added the SpaceXAI API to its AI technology stack after being accepted into the SpaceXAI API program. The addition gives Rocket One access to SpaceXAI's latest multimodal artificial intelligence models for coding, reasoning, text, image, video, and voice applications. Also on July 9, it was reported that Cathie Wood's ARK Investment bought 182K shares of Space Exploration Technologies Corp. (NASDAQ:SPCX).SpaceX (SPCX): The Best Growth Stock With Highest Upside Potential On the same day, Cursor said in a blog post that it is "releasing Grok 4.5" together with SpaceXAI. Cursor said Grok 4.5 is its most intelligent model and is designed for tasks beyond software engineering, including data science, finance, legal work, and other computer-based work. Grok 4.5 is available in Cursor across desktop, web, iOS, CLI, and the company's SDK. Cursor said individual and team plans include usage of the model as part of its first-party model pool, and that usage is being doubled for the first week. The base model is priced at $2/M input tokens and $6/M output tokens, while the fast variant is priced at $4/M input tokens and $18/M output tokens. Space Exploration Technologies Corp. (NASDAQ:SPCX) provides satellite-based broadband services, launch services, and AI platform solutions in the United States, Ireland, Canada, and internationally. While we acknowledge the potential of SPCX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on thebest short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. Disclosure: None. Follow Insider Monkey on Google News. View Comments
Citi Shares Drop as CEO Warns of Higher Cost from Investments
(Bloomberg) -- Citgroup Inc.'s shares erased earlier gains as Chief Executive Officer Jane Fraser said the bank would "lean in with additional investments and other actions" if economic conditions remain favorable. Most Read from Bloomberg US Hits Iran With Strikes, Blockade as Trump Plans Hormuz Charge US CPI Falls for the First Time Since 2020, Core Gauge Flat Lindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71 Trump Embraces Australian Retirement System Backed by Larry Fink A Cocaine Bust in Spain Leads All the Way to Wall Street "If conditions stay constructive, we intend to take advantage of that," Fraser said Tuesday on a call with analysts. "We'll lean in with additional investments and other actions to create value for our shareholders over the medium term." Shares pared their earlier gains, falling 5.7% following the comments. Citi earlier reported second-quarter earnings that beat expectations in key business lines. It's not clear what the bank's executives mean by additional investments. During a conference call with analysts, executives faced questions about why they'd left their full-year forecast for return on tangible common equity at 10% to 11% even though that metric has trended higher so far this year. Chief Financial Officer Gonzalo Luchetti also warned that the bank might have to set aside more for severance costs as it looks to streamline operations. "We're playing the long game," Fraser said. When the bank reported results for the first quarter in April, Fraser dismissed a Bloomberg report from late March that said the bank was exploring buying a retail bank or wealth brokerage. Citi is "only interested in and focused on organic growth," the CEO said at the time. Most Read from Bloomberg Businessweek Credit Card Holders Are Using 'Friendly Fraud' to Get Back at Retailers The Shattering of the Middle East's Most Unlikely Friendship Job Hunters Are Using AI to Cheat in Interviews, and Failing at the Office Washington Is Looking to Keep China From Training Its AI on US Models A $10 Jar of Tomato Sauce Is Reason to Celebrate ©2026 Bloomberg L.P. View Comments
London Assembly chairman debanked after Ukraine visit
Andrew Boff received a letter from his bank stating it had identified transactions in a sanctioned country - Belinda Jiao A senior Conservative has claimed he was debanked by HSBC-owned First Direct after a visit to Ukraine. Andrew Boff, the chairman of the London Assembly, said that after he spent £36 on coffees and lunch in Kyiv during a visit in May, he returned to Britain to find that his bank card no longer worked. He said that on July 8, he received a letter from First Direct informing him that the retail bank would close his accounts in 90 days, on Oct 6. The letter, seen by The Telegraph, said his bank card had been cancelled and his electronic banking had "ceased". It read: "We have identified transactions made in a sanctioned country. "As part of regulations, we must comply with sanction laws and manage any risks effectively. Following a recent review, we determined that the management of these risks is outside of our acceptable limits. "We're giving you 90 days written notice that we'll end your contracts with us. We'll close the accounts detailed above, along with any related services, on Oct 6 2026, unless you arrange to close them sooner." Ukraine is not considered a high-risk country for money laundering purposes according to the Financial Action Task Force, a G7-founded body which sets international anti-money-laundering standards. Unlike in other countries, there is no legal right to a bank account in the UK, and banks can choose to close accounts for commercial reasons, as well as if there is suspicious or sanctioned activity. Mr Boff said: "It is imperative that we have a robust sanctions programme so as to clamp down on the means that the Russian war machine has to fund its brutal war. "But a robust sanctions programme is one which can differentiate between buying a coffee in Ukraine and a coffee in Russia." He added: "I am disappointed that First Direct has been unable to communicate more comprehensively, and that there has been no way for me to clarify to them what has happened with the hope of regaining access to my savings and direct debits. This is simply unacceptable and I hope that the system can be revised before more Britons are caught this way." First Direct was launched as the UK's first telephone-only bank in 1989, set up as a division of HSBC. The Telegraph has previously heard from humanitarian workers, small business owners, charities and even churches who have had their accounts closed without explanation. Debanking hit record levels in 2024-25, according to figures from the Financial Conduct Authority. An estimated 453,230 accounts were shut down, data released to The Telegraph under Freedom of Information rules shows. Story Continues This was a more than tenfold increase on the 45,091 accounts closed in 2016-17, and an 11pc jump on the 408,000 accounts closed in the 2023-24 tax year. In all of the cases, lenders cited "financial crime reasons" for the decision to close accounts. Nigel Farage, who was debanked by private bank Coutts in 2023, said: "Nothing has changed, despite all the promises." Last week, Reform accused the National Crime Agency of leaking MPs' bank details to the media, including transactions which were flagged as suspicious. Earlier this year, the Government implemented stricter rules for debanking. Victims can now expect 90 days' notice of an account closure in most cases and better explanations. But banks can still refuse to explain their actions if they believe that doing so would help criminals launder money. HSBC on behalf of First Direct declined to comment. View Comments
Watch Fed Chairman Kevin Warsh testify live to House Financial Services committee
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Kevin Warsh speaks Tuesday to the House Financial Services Committee as part of the congressionally mandated semiannual monetary policy report. The central bank leader's appearance comes the same day the Bureau of Labor Statistics reported that consumer prices fell an unexpectedly sharp 0.4% in June, easing some worries among policymakers about inflation. In remarks prepared for the appearance, Warsh promised a vigilant fight to return inflation to the Fed's 2% target. "The members of our Committee have no tolerance for persistently elevated inflation. And we share a resolute commitment to restoring price stability," he said. Read more Warsh promises inflation will be a 'thing of the past,' cites benefits of AI investment boom Fed officials were split on direction of interest rates at last meeting, minutes show Warsh faces multiple alternative inflation signs as Fed charts new course Subscribe to CNBC on YouTube. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
First Hawaiian (FHB) Stock Looks Cheap On Fair Value Yet Fair On Earnings
Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. First Hawaiian stock has returned 71.6% over the past three years, yet the current valuation picture is mixed, with the Excess Returns intrinsic value estimate suggesting about 22.3% upside while the broader checks do not point to an obvious bargain. A 71.6% gain over three years puts First Hawaiian among the stronger banking stocks in that window. The key issue is whether recent returns already reflect most of the value on offer. The planned all stock acquisition of TriCo Bancshares may support higher long term earnings power, but integration risk and regulatory approvals can affect how much of that potential value ultimately reaches shareholders. First Hawaiian screens as undervalued on 2 of 6 valuation checks. The low overall score suggests the stock leans closer to fairly priced than to a clear cut bargain across standard metrics (2/6 valuation checks). The issue now is whether First Hawaiian's current share price already discounts the expected benefits of the TriCo deal and recent share price gains, or if the intrinsic value estimate still points to meaningful upside from here. Find out why First Hawaiian's 16.6% return over the last year is lagging behind its peers. Is First Hawaiian Still Cheap on Excess Returns? The Excess Returns model evaluates how efficiently First Hawaiian converts its equity base into earnings above the required return for shareholders. For First Hawaiian, the model uses a Book Value of $22.75 per share and a Stable EPS of $2.57 per share, compared with a Cost of Equity of $2.06 per share. That gap translates into an Excess Return of $0.51 per share, supported by an Average Return on Equity of 9.94% and a projected Stable Book Value of $25.88 per share. Using these inputs together, the Excess Returns model estimates an intrinsic value of about $37.52 per share, which sits roughly 22.3% above the current share price and suggests the stock may be undervalued. Because the planned $2 billion all stock acquisition of TriCo Bancshares introduces integration and regulatory uncertainty, the discount can be interpreted as the market asking for a margin of safety before fully reflecting the enlarged bank's earnings power in the price. On this model, First Hawaiian stock appears undervalued, with the current price not fully reflecting the excess returns implied by its projected profitability and equity base. Our Excess Returns analysis suggests First Hawaiian is undervalued by 22.3%. Track this in your watchlist or portfolio, or discover 46 more high quality undervalued stocks. Story Continues FHB Discounted Cash Flow as at Jul 2026 Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for First Hawaiian. Does First Hawaiian Look Fairly Valued on Earnings? P/E is a useful yardstick for banks like First Hawaiian because earnings are a primary driver of shareholder value. First Hawaiian currently trades on a P/E of about 12.4x, which sits slightly above the peer average of 10.8x and is close to the broader banks industry average of 12.2x. The tailored fair P/E for First Hawaiian is estimated at 11.7x, which is only modestly below the current multiple. That small gap suggests the stock is priced close to what the model views as appropriate, given factors such as profitability, risk and size, rather than pointing to a clear discount or premium. The stock therefore does not screen as obviously cheap or expensive on earnings compared with similar banks. On the P/E yardstick, First Hawaiian appears roughly fairly valued, with its earnings multiple landing close to the level implied by its fundamentals and industry position.NasdaqGS:FHB P/E Ratio as at Jul 2026 See what the numbers say about this price — find out in our valuation breakdown. The First Hawaiian Narrative: What Would Justify Today's Price? Simply Wall St Narratives for First Hawaiian pick up where the valuation checks leave off by laying out the specific growth, margin and earnings paths that would need to play out for First Hawaiian's stock to be worth meaningfully more or less than it is today on the market. Instead of giving a single number, they unpack the future assumptions that number sits on, so you can see what needs to happen and monitor whether that story is still intact over time on the Community page. If you have a clear, number driven view on whether First Hawaiian's planned US$2b all stock acquisition of TriCo Bancshares ultimately delivers for shareholders, share a Narrative and spell out the earnings, margins and valuation path you think needs to play out. It is a chance to add your voice in the Simply Wall St community, set out a transparent case on First Hawaiian's stock, and then track how that thesis holds up as the combined bank reports results and the deal progresses toward closing. Do you think there's more to the story for First Hawaiian? Head over to our Community to see what others are saying! The Bottom Line For First Hawaiian, the Excess Returns intrinsic value estimate points to meaningful upside from here, while the P/E view implies the stock is priced about right relative to similar banks. That split reflects different focuses, with the intrinsic value model weighing the bank's ability to earn above its cost of equity and the market multiple reflecting current sentiment toward growth and risk. Broader valuation checks are relatively weak. The key question is whether the discount to intrinsic value is a genuine opportunity or simply compensation for integration and execution risk around the TriCo Bancshares acquisition. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include FHB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com View Comments
Fifth Third Earns Treasury and Cash Management Honors from Global Finance for the Third Consecutive Year
CINCINNATI, July 14, 2026--(BUSINESS WIRE)--Fifth Third Bank (NYSE: FITB) has been named Best Treasury and Cash Management Bank in the United States by Global Finance as part of the publication's 2026 Treasury and Cash Management Awards. The recognition reflects Fifth Third's capabilities in helping businesses manage liquidity, optimize working capital and move money securely and efficiently across their operations. In addition to national award, Fifth Third was recognized regionally in the Midwest and Southeast, the third consecutive year for these honors. Global Finance also named Comerica the Best Treasury and Cash Management Bank for the West US region. On February 2, Fifth Third and Comerica closed on their merger to become the ninth largest US Bank. Combined, the company's Commercial Payments business is a $1 billion recurring and high-return fee business. "Being recognized nationally and across our new Fifth Third footprint reflects the strength of our Commercial Payments business and the trust clients place in us," said Bridgit Chayt, head of Commercial Payments at Fifth Third. "We continue to invest in innovative solutions that simplify payments, improve the client experience and help businesses move faster in an increasingly digital economy." The awards highlight Fifth Third's continued leadership and momentum in Commercial Payments, reinforcing the Bank's commitment to delivering innovative and client-focused payment solutions across its entire US footprint. Newline™ by Fifth Third platform was recently honored by American Banker as a 2026 Innovation of the Year award winner for embedded payments for its role in advancing large-scale payments and capabilities. Additionally, Fifth Third Bank was recognized as a Top Financial Innovator by Global Finance for its Newline™ by Fifth Third platform. Global Finance selects winners based on criteria including profitability, market share, customer service, competitive pricing, product innovation, and technology implementation. Editors also evaluate submissions from banks and providers, as well as input from industry analysts, corporate executives and technology experts. About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is to be the one bank people most value and trust. Story Continues Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the New York Stock Exchange under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC. View source version on businesswire.com: https://www.businesswire.com/news/home/20260714713819/en/ Contacts Adrienne Gutbier (Media Relations) adrienne.gutbier@53.com | 513-534-8038 Matt Curoe (Investor Relations) matt.curoe@53.com | 513-534-2345 View Comments
Visa Introduces AI Financial Assistant, Helping Banks Guide Customers from Insight to Action
AI Financial Assistant brings conversational financial guidance into the banking apps consumers already trust for spending and saving. The Visa Value‑Added Service applies benchmarking insights informed by one of the world's largest payment networks to deliver personalized recommendations. Aligned with Visa's AI and data governance standards, the feature is designed to operate within secure banking environments to meet the needs of banks and their consumers. SAN FRANCISCO, July 14, 2026--(BUSINESS WIRE)--Visa (NYSE: V), a global leader in digital payments, today announced AI Financial Assistant, a new value‑added service designed to help financial institutions evolve their apps for an AI‑driven era. The feature helps banks bring AI-powered financial insights to cardholders under their own brand, look and feel with no custom development required. More than 66% of surveyed Americans who have used generative AI are turning to AI for financial advice,1 yet consumers view banks as the most trusted institutions to safeguard personal data.2 In fact, 85% say they are willing to share even more data with their bank if there was a clear AI value proposition.3 AI Financial Assistant allows banks to extend that trust into natural, conversational experiences within secure banking environments. "Consumers are already turning to AI for financial advice—but banks have the full financial picture, can act on it, and are among the most trusted institutions consumers rely on," said Michele Herron, Senior Vice President and Head of North America Value-Added Services at Visa. "AI Financial Assistant brings those strengths together, combining personalized insights based on a consumer's own data and pairing it with the ability to act, all right within their bank's app. By simply turning on this service, banks can strengthen relationships with their customers and transform from a passive ledger to a generative AI–enabled financial hub." Turning insights into action, inside the mobile banking app As part of its initial rollout, AI Financial Assistant enables ways for cardholders to: Stay on top of spending, automatically: Proactive monthly insights surface meaningful changes without setup or manual effort. Ask and understand instantly: Responses to natural‑language questions are grounded in a cardholder's own financial activity. Act in the moment: Lock a card or set alerts directly within the conversation. Future planned enhancements include the ability to connect spending insights and subscription management through Enhanced Subscription Manager. Story Continues A modern, unified digital banking experience AI Financial Assistant is the latest feature of Visa Digital Issuer Solutions, delivering a single chat-based entry point inside the banking app. Financial institutions can connect their FAQs and documents via deep links to surface relevant banking product information, providing cardholders with answers to questions like "Are there any car loan benefits for existing customers?" or "Do you have high-yield savings accounts to help me save for a car?" While financial institutions can deploy individual capabilities on their own through Visa's Digital Enablement Software Development Kit (SDK), AI Financial Assistant acts as a central layer that connects existing and new features within the SDK as they come online. Operating under Visa's AI and data governance standards, AI Financial Assistant is informed by Visa's global network of more than 300 billion annual transactions. It combines cardholder behavior, real-time data, and the financial institution's own data to deliver highly personalized guidance with the security, compliance, and fraud protections banks require. AI Financial Assistant will be available to U.S. financial institutions for pilot in August 2026, with a planned global rollout to follow. To learn more, contact your Visa Account Executive and visit Visa Digital Issuer Solutions. Frequently Asked Questions (FAQ) What is AI Financial Assistant? Visa AI Financial Assistant is a value‑added service. It enables financial institutions to offer a conversational, in‑app experience for understanding spending, receiving personalized insights, and taking action, all inside their existing banking apps. Who is AI Financial Assistant designed for? AI Financial Assistant is designed for financial institutions looking to increase digital engagement by helping cardholders better understand their finances. How do consumers benefit from AI Financial Assistant? Within their issuer's app, consumers can: Receive proactive spending summaries Ask natural‑language questions about their finances Take guided actions, such as reviewing subscriptions or activating relevant offers How does AI Financial Assistant fit into Digital Issuer Solutions? AI Financial Assistant is part of Visa Digital Issuer Solutions, a platform of value‑added services designed to help financial institutions deliver modern, consumer‑focused digital experiences that evolve with customer expectations. By integrating with Visa's Digital Enablement Software Development Kit (SDK), issuers can access a suite of capabilities through a single integration point including Enhanced Subscription Manager, In-App Provisioning, Digital Card Display and more. Can issuers customize the experience? Yes. If a bank chooses to white‑label AI Financial Assistant, cardholders experience the feature as part of their digital banking app. Banks can also configure enrollment, notifications, and supported actions to align with their products, services, and digital strategies. What AI technology is behind AI Financial Assistant? Visa's AI Financial Assistant is powered by Visa's Data & AI Platform (DAP), which provides secure access to multiple leading AI models. We evaluate models on an ongoing basis to ensure they meet our standards for security, accuracy, compliance, and performance. About Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com. 1 Credit Karma, "The Rise of Fin-AI: Why Americans Are Trusting Generative AI With Their Wallets." September 2. 2025. 2 2025 Oliver Wyman Consumer Survey on AI and "Known Unknowns" report, "Is trust the banks' hidden advantage?" January 2026. 3 2025 Oliver Wyman Consumer Survey on AI and "Known Unknowns" report, "Is trust the banks' hidden advantage?" January 2026. View source version on businesswire.com: https://www.businesswire.com/news/home/20260713836083/en/ Contacts Media Contacts Victoria Khamsombath press@visa.com View Comments
Warsh promises inflation will be a 'thing of the past,' cites benefits of AI investment boom
Federal Reserve Chairman Kevin Warsh pledged Tuesday to "get monetary policy right" and defeat the inflation that has bedeviled the central bank for the past five years. In remarks for delivery to separate congressional panels this week, Warsh reiterated his recent tough talk on inflation, while also touting the strength of the U.S. economy and benefits coming from business investment, particularly involving artificial intelligence. "Today we are at a hinge point in history. It's up to all of us to meet this moment," said Warsh, who speaks Tuesday to the House Financial Services Committee then the Senate Banking Committee on Wednesday. "The Fed's number one objective is to get monetary policy right — or as near to it as we possibly can. That is our clear and constant aim, the star we steer by," he added. "And if we get policy right — and we will — the inflation surge of the last five years will be a thing of the past." The remarks come just two months into Warsh's term. Fed chairs are mandated to appear twice a year before Congress to deliver a monetary policy report then take legislators' questions. Warsh takes over a Fed that has scene inflation exceed its 2% mandate since 2021. During his confirmation hearing earlier this year, the chairman called inflation "a choice," and emphasized repeatedly the importance of bringing down the cost of living during his first news conference. Similar to his predecessor, Jerome Powell, Warsh noted that the persistently high inflation levels have "been an undue burden on American households and businesses" who have faced higher costs across the board, with the latest surge coming in good part from soaring energy prices. "While monthly price fluctuations are inevitable — especially in an unsettled world — underlying inflation over longer time horizons is determined largely by monetary policy," he said. "The members of our Committee have no tolerance for persistently elevated inflation. And we share a resolute commitment to restoring price stability." On broader conditions, Warsh said the economy "is expanding at a solid pace, showing resilience in the face of recent developments." He pointed to business investment that he called "the most striking feature" of the current climate. "The rapid pace — which appears to be accelerating — reflects, in large part, the construction of data centers and the immense demand for the AI-related equipment and software that fill them," he said. "We don't know the extent to which the economy will benefit from the AI buildout," he added. "Yet it seems inevitable that what is now called 'AI investment' will soon be called just 'investment.'" Warsh previously has said he expects an AI productivity boom will prove disinflationary — a premise challenged by some economists as well as his fellow Fed policymakers. Elsewhere, Warsh further fleshed out the five task forces he has created to conduct a comprehensive review of the Fed's operations. The panels will examine the communications, technology, the balance sheet, economic data the Fed employs and the way it looks at inflation. Together, he said the groups are part of "a new chapter at the Federal Reserve," an extension of the "regime change" Warsh promised last year in a CNBC interview. However, whereas Warsh previously faulted "incumbents" at the Fed for institutional problems, he has taken a more conciliatory tone since he's been in office. "t's been a privilege to return to the Fed and to work again with so many talented and dedicated people I'm fortunate to call my colleague," he said. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Rupert Murdoch's estranged son is set to make more from his SpaceX investment than he gained from his father's empire
Toni Anne Barson/FilmMagic/Getty Images The estranged son of billionaire media mogul Rupert Murdoch seems poised to make a fortune from investments in SpaceX that could far exceed what he's made from his father's empire. James Murdoch, Rupert's second son, reportedly invested an estimated $120 million in the rocket company leading up to its historic market debut on June 12. Fortune is reporting (1) that the holding could now be worth as much as $7.5 billion. The estimate was made by Pitchbook analyst Franco Granda, who came to the valuation based on details pertaining to Murdoch's holdings. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here's what it is and 3 simple steps to fix it ASAP Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going Murdoch's ties to SpaceX Murdoch reportedly bought three tranches of stock in SpaceX, according to details of a court case brought by a Tesla shareholder against Musk over his infamous $56-billion compensation package, Fortune reported. Two of the tranches were worth $50 million each and were bought in 2019 and 2020 through a private investment firm. The third was bought for $20 million as a personal investment in 2019. Pitchbook estimates those stakes together are worth between $6.5 billion and $7.4 billion today. According to the 2023 court filing, James has long been connected to Musk, whom he met in the late 1990s. The two reconnected in the mid-2000s after James ordered a Tesla. James was later appointed to the Tesla board, and is currently listed as an independent director who joined the company in July 2017. He has made millions off of his Tesla shares, which he holds in a trust and another financial entity. Sales of Tesla shares have made the trust $107 million since Spring 2025 (2). Read More: Are you paying too much for car insurance? Here are 3 clever ways to slash your monthly bill The Murdoch family drama James, 53, is an avid investor and has already made billions of dollars through his father's empire. He served as the former chief executive of 21st Century Fox, but stepped down in 2019 (3) after it was acquired by Disney in a $71.3-billion deal (4). He made $2.2 billion in proceeds. The Murdoch family underwent a messy and public succession battle. Murdoch officially cut ties with his father after his older brother Lachlan was chosen as the new head of News Corp (5). The global media company owns dozens of organizations, including HarperCollins Publishers and the parent company of The Wall Street Journal and Barron's. Story Continues In 2025, a Nevada probate court ruled against a move (6) by Rupert and Lachlan to change the Murdoch Family Trust and strip James and his sisters Liz and Prue of their voting rights in News Corp. The parties came to an agreement after an appeal and each of the three siblings received a $1.1-billion payout. They also shed their stock in News Corp and Fox. The family feud became public after The New York Times (7) and The Atlantic (8) reported on the animosity. Murdoch and his father no longer speak. James Murdoch's potential windfall So far, it is still unconfirmed how much money Murdoch could stand to make from SpaceX. The company's S-1 document (9) attached to its initial public offering does not mention Murdoch. The precise date of his stock acquisitions is unknown, and could impact how much he makes. It is unclear whether Murdoch sold his SpaceX shares before the company went public. There have also been several dilutions, which could impact his earnings. Despite the lingering questions, Fortune is reporting that media industry executives have been exchanging rumors about the massive windfall Murdoch stands to make. You May Also Like 'Gold still crashing!': Robert Kiyosaki admits he was wrong — but doubles down on his $35K prediction The tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time. What to do before the window closes Here's the average income of Americans by age in 2026. Are you keeping up or falling behind? When he dies, Warren Buffett said 90% of his wife's inheritance will go into a single investment. Here's why (and how you can do it too) Join 250,000+ readers and get Moneywise's best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now. Article Sources We rely only on vetted sources and credible third-party reporting. For details, see ourethics and guidelines. Fortune (1); SEC (2); Variety (3); U.S. Securities and Exchange Commission (4); News Corp (5); The New York Times (6), (7); The Atlantic (8); Investopedia (9) This article originally appeared on Moneywise.com under the title: Rupert Murdoch's estranged son is set to make more from his SpaceX investment than he gained from his father's empire This article provides information only and should not be construed as advice. It is provided without warranty of any kind. View Comments
Banco do Brasil Embeds Agentic AI into Core Workflows to Strengthen Relationship Banking and Customer Engagement
Deployment of NiCE Copilot enables relationship managers and banking teams to deliver more personalized, efficient, and compliant service at scale HOBOKEN, N.J., July 14, 2026--(BUSINESS WIRE)--NiCE (NASDAQ: NICE) today announced that Banco do Brasil, one of Latin America's largest financial institutions, is leveraging NiCE Copilot to accelerate operational excellence and elevate customer service across its organization. Embedded natively within the unified NiCE CXone AI platform used by relationship managers and banking assistants, NiCE Copilot brings agentic AI-powered guidance and automation into everyday banking workflows. This seamless experience enables employees to work more efficiently, make informed decisions in real time, and deliver personalized compliant customer interactions – all from a single, integrated workspace. Serving more than 90 million customers, Banco do Brasil continues to invest in technologies that help scale personalized service while maintaining the trust, consistency, and governance required in modern banking. Through NiCE Copilot, the bank is equipping employees with AI-powered capabilities that streamline customer interactions, accelerate decision-making, and provide greater visibility into customer needs and engagement history. Banco do Brasil is centralizing critical customer service functions into a unified workspace. The solution automatically summarizes customer interactions, surfaces relevant customer history and engagement insights, and analyzes sentiment in real time, transforming fragmented information into actionable intelligence. This enables employees to prepare customer engagements faster, respond more effectively to customer needs, and deliver more consistent service experiences across the organization. NiCE Copilot also provides contextual guidance during customer interactions, helping employees access the right information at the right moment. By reducing time spent searching across systems and organizing customer data, the solution enables banking professionals to focus more on building customer relationships, identifying service opportunities, and delivering personalized financial support. In addition to improving efficiency, the deployment supports the bank's commitment to governance and compliance by creating standardized interaction summaries and a traceable record of customer engagements. These capabilities help strengthen operational consistency while supporting the rigorous regulatory requirements of the financial services industry. Story Continues The deployment is currently in a pilot phase, with early results demonstrating measurable improvements in productivity, reduced rework, greater consistency in customer interactions, and improved organization of customer information. These early gains reinforce the initiative's potential to further enhance relationship management and service delivery while continuing to operate at scale. This initiative builds on the ongoing innovation partnership between the two organizations. In 2025, Banco do Brasil integrated WhatsApp into the NiCE CXone platform, creating a centralized, secure, and traceable environment for customer interactions. "The integration of NiCE Copilot into our service model eliminates the need to switch between multiple systems, enabling our teams to manage customer interactions more efficiently within a single environment," said Analaura Morais, Head - CRM and Digital Customer Induction, Banco do Brasil. "This is especially significant for professionals managing multiple client relationships, as it accelerates workflows and enhances the overall service experience." "By embedding AI directly into the workflows of relationship managers and service teams, Banco do Brasil is transforming how customer relationships are managed," said Dan Belanger, President, NiCE Americas. "By equipping employees with real-time intelligence that improves productivity and helps deliver more meaningful and personalized customer experiences, the result is a more agile and customer-focused banking organization." About Banco do Brasil Banco do Brasil is one of the oldest and largest banks in Latin America, serving more than 90 million customers across Brazil with a focus on innovation, security, and relationship banking. About NiCE NiCE (NASDAQ: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE's platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes. Trademark Note: NiCE and the NiCE logo are trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: www.nice.com/nice-trademarks. Forward-Looking Statements This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Belanger are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the "Company"). In some cases, such forward-looking statements can be identified by terms such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," "estimate," or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in general economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; rapid changes in technology and market requirements; the implementation of AI capabilities in certain products and services, decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or effectively integrating acquired operations; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security incidents; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy; our ability to recruit and retain qualified personnel; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260714494675/en/ Contacts Corporate Media Contact Christopher Irwin-Dudek, +1 201 561 4442, media@nice.com, ET Investors Ryan Gilligan, +1 551 417-2531, ir@nice.com, ET Omri Arens, +972 3 763-0127, ir@nice.com, CET View Comments
2 Bank Stocks to Consider Right Now and 1 That Underwhelm
2 Bank Stocks to Consider Right Now and 1 That Underwhelm Banks serve as the backbone of the economy, facilitating lending, deposits, and financial services that keep businesses and consumers moving forward. Furthermore, economic conditions have supported loan growth and fee income, a trend that has enabled the banking industry to return 10.6% over the past six months, almost identical to the S&P 500. Although banks have produced good results, only a handful will thrive over the long term as fintech disruptors are rapidly taking market share from traditional institutions. With that said, here are two bank stocks we think can generate sustainable market-beating returns and one we're steering clear of. One Bank Stock to Sell: Byline Bancorp (BY) Market Cap: $1.70 billion Ranking as the fifth most active Small Business Administration lender in the country, Byline Bancorp (NYSE:BY) is a Chicago-based bank that provides banking services to small and medium-sized businesses, commercial real estate developers, and consumers. Why Are We Wary of BY? Sales trends were unexciting over the last two years as its 7.1% annual growth was below the typical banking company Estimated net interest income growth of 3% for the next 12 months implies demand will slow from its five-year trend Performance over the past two years shows its incremental sales were less profitable, as its 4.6% annual earnings per share growth trailed its revenue gains At $37.37 per share, Byline Bancorp trades at 1.2x forward P/B. To fully understand why you should be careful with BY, check out our full research report (it's free). Two Bank Stocks to Watch: Axos Financial (AX) Market Cap: $5.53 billion Originally founded as Bank of Internet USA in 1999 before rebranding in 2018, Axos Financial (NYSE:AX) is a diversified financial services company that provides digital banking, securities clearing, and investment advisory solutions to retail and business customers nationwide. Why Should You Buy AX? Annual net interest income growth of 18.6% over the past five years was outstanding, reflecting market share gains this cycle Differentiated product suite is reflected in its best-in-class net interest margin of 4.8% Earnings growth has trumped its peers over the last five years as its EPS has compounded at 18.1% annually Axos Financial's stock price of $97.18 implies a valuation ratio of 1.7x forward P/B. Is now the right time to buy? See for yourself in our comprehensive research report, it's free. Old Second Bancorp (OSBC) Market Cap: $1.19 billion Dating back to 1871 as one of the Chicago area's longest-standing financial institutions, Old Second Bancorp (NASDAQ:OSBC) is an Illinois-based community bank offering deposit services, commercial and consumer loans, wealth management, and mortgage products through its 53 branch locations. Story Continues Why Does OSBC Stand Out? Impressive 21.5% annual revenue growth over the last five years indicates it's winning market share this cycle Annual net interest income growth of 27.4% over the last five years was superb and indicates its market share increased during this cycle Differentiated product suite results in a best-in-class net interest margin of 4.9% Old Second Bancorp is trading at $23.06 per share, or 1.2x forward P/B. Is now the time to initiate a position? Find out in our full research report, it's free. High-Quality Stocks for All Market Conditions WHILE YOU'RE HERE: Top 9 Market-Beating Stocks. The best stocks don't just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses. But our AI platform says the party isn't over. Find out which 9 stocks made the cut this week — FREE. Get Our Top 9 Market-Beating Stocks for Free HERE. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today. View Comments
Bank of America profit jumps 27% amid commercial loan growth and 'strong consumer spending'
Bank of America (BAC) stock rose 2% on Tuesday after the bank's profit jumped 27% last quarter to $9.1 bilion, with net income growth across every business segment. Management pointed to a healthy economic backdrop, broadening consumer loans, and resilient consumers. "The U.S. economy has proved more durable than expected, supported by the strong consumer, ongoing AI-driven investments across the board, and easing energy costs," CEO Brian Moynihan said during the bank's earnings call. "We continue to see strong consumer spending," he added later in the call. Earnings per share jumped 34% year-over-year, driven by commercial loan growth beyond artificial intelligence. "Whether it's business banking, the commercial bank, or the corporate bank, they're all contributing. It's very broad-based loan growth at this point," said Alastair Borthwick, CFO of BofA . (BAC ) Go deeper with AlphaSpace 60.55 +1.01 (+1.70%) As of 9:55:13 AM EDT. Market Open. Bank of America's net interest income, the profit made from loans minus interest paid to depositors, hit $16 billion, topping the Bloomberg consensus estimate of $15.92 billion. Management sees NII guidance for the full year at the upper end of a 6% to 8% range, which Wall Street analysts on the call viewed as conservative. "We're just up against tougher comps. That's all," said Borthwick. Bank of America's stock-trading revenue jumped 70% to $3.62 billion, smashing Wall Street consensus by nearly $1 billion, driven by increased client activity and strong trading performance, particularly in Asia and the US. The results echoed those of Wells Fargo (WFC), which also exceeded analysts' expectations for its second quarter earnings, boosted by a 13% year-over-year increase in revenue from its wealth management and investment banking businesses. Consumer banking and lending revenue grew 6% year-over year, as did commercial banking revenue. "We are clearly benefitting from the broad-based economic strength we see in the US, but the investments we are making and our improved operating discipline also drove strong momentum in our key business metrics across all operating segments," CEO Charlie Scharf said in the statement. Citigroup (C) also beat estimates on Tuesday, with net interest income of $17.13 billion versus estimates of $16.01 billion. Second-quarter equities sales and trading revenue jumped to $2.3 billion, coming in above expectations of $1.98 billion. Ines Ferre is a Senior Business Reporter for Yahoo Finance covering the US stock market, publicly traded companies, and commodities. Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance View Comments
Stocks making the biggest moves premarket: JPMorgan Chase, Bank of America, IBM, Apple & more
Check out the companies making headlines before the bell: JPMorgan Chase — Shares were down slightly in the premarket after the banking giant posted Q2 results. The bank earned $6.14 per share, excluding significant items, on revenue of $58.02 billion. Analysts polled by LSEG expected a profit of $5.85 per share on revenue of $50.19 billion. To be sure, it wasn't clear if the bank's profit was comparable to the consensus. Bank of America — Bank of America beat expectations in its latest quarter. The bank posted earnings of $1.21 per share, more than the $1.13 expected by analysts polled by LSEG. Revenue of $31.7 billion also exceeded the $30.72 billion consensus estimate. To be sure, shares were flat in the premarket. Wells Fargo — The stock were down 1% even after Wells Fargo posted earnings of $2 per share on revenue of $22.62 billion. Analysts surveyed by LSEG were anticipating earnings of $1.72 per share on revenue of $21.84 billion. Apple — Shares of the iPhone maker slid about 1% KeyBanc downgraded Apple to underweight from sector weight, with a $250 price target implying 21% downside from Monday's close. The Wall Street firm expects the stock could come under pressure as customers tighten their purse strings in response to rising prices. IBM — The legacy tech giant plunged 17% after it posted weaker-than-expected preliminary Q2 earnings. IBM expects to report a profit of $2.93 per share, excluding certain items. Analysts polled by FactSet expect a profit of $3.01 per share. Telefonaktiebolaget LM Ericsson — Shares of the Swedish networking and telecommunications provider dropped nearly 10%. The company posted disappointing revenue of SEK52.70B, missing the consensus estimate of SEK53.94B, according to StreetAccount. Adjusted gross margin of 48.4% also came in below the 47.8% expected. — CNBC's Fred Imbert contributed reporting
IDBI stake sale advances with revised bids from Fairfax, Emirates NBD
India has received revised bids from Fairfax Financial and Emirates NBD for the purchase of its stake in IDBI Bank, as the long-running privatisation process moves into a crucial stage. The updated offers are being assessed, with a high-level group of bureaucrats having met on 13 July to review the proposed transaction. According to government sources cited by ANI, the disinvestment exercise is expected to be wrapped up within a month. The government of India and state-run Life Insurance Corporation of India (LIC) are proceeding with plans to sell their combined 60.7% stake in IDBI Bank. The government currently holds 45.48% in the lender, while LIC owns 49.24%. Based on prevailing market valuations, the deal is estimated at roughly USD 5.7 billion. If finalised, it would be one of the biggest foreign investments in India's banking sector, ANI reported. The sale process had earlier faced a setback. In March, Bloomberg reported that the Indian government's effort to divest a majority stake in IDBI Bank was paused because the bids submitted fell short of the minimum price requirement. Although officials did not formally identify the bidders, earlier reports had named Canada-based Fairfax Financial, led by billionaire Prem Watsa, and Dubai's Emirates NBD among the parties interested in securing a controlling stake in the bank. Bloomberg also reported in May that Indian authorities were weighing adjustments aimed at reigniting buyer interest after the most recent push to privatise the lender lost momentum. Among the options under consideration was a reduction of as much as 20% in the reserve price. Other recent overseas investments in India's banking industry include Emirates NBD's acquisition of a 60% stake in RBL Bank and Sumitomo Mitsui Banking Corp's purchase of a 24% stake in Yes Bank. Besides, the Reserve Bank of India approved Asia II Topco XIII, a Singapore-based Blackstone affiliate, to acquire as much as 9.99% of Federal Bank's paid-up share capital or voting rights. "IDBI stake sale advances with revised bids from Fairfax, Emirates NBD" was originally created and published by Retail Banker International, a GlobalData owned brand. View Comments
JPMorgan notches record quarter as CEO Jamie Dimon calls the banking environment 'close to as good as it gets'
The country's largest bank just raked in more quarterly profit than any US bank ever. JPMorgan Chase (JPM) said profits jumped 41% to $21.2 billion in its second quarter, or $7.70 per share, far exceeding the $5.64 per share analyst had expected. Total net revenue rose 28% to $57 billion, compared to $45 billion in the year-ago quarter. JPMorgan said a big profit boost came from a $4.6 billion net gain on the sale of Visa shares held by its corporate division. It noted another $1 billion of gains on certain equity investments. During its prior record quarter in 2024, JPMorgan also recognized gains related to its Visa shares. Without those one-time gains, the bank's net income of $16.9 billion would still have handily beaten the Street's expectations. "It's getting close to as good as it gets," CEO Jamie Dimon said when asked about the current banking environment during a Tuesday analyst call. "We're in a very healthy, active, exuberant market with very high prices and very high volumes. We benefit from that. We just don't know how long it will continue," he added. Dimon didn't shy away from pointing to the market's biggest risks, pointing to geopolitical tensions, wars, sticky inflation, and elevated asset prices. "We cannot predict how these forces will ultimately play out," he warned in the company's press release. "They can easily collide in a way that will surprise you," he added in a call with reporters. (JPM ) Go deeper with AlphaSpace 334.53 -1.94 (-0.58%) As of July 13 at 4:00:02 PM EDT. Market Open. JPMorgan's results kick off what analysts expect will be another strong earnings season for big banks. The industry has been buoyed by a resurgence in Wall Street activity, with its dealmaking and trading businesses benefiting from a swell in capital raising to fund the AI boom. For JPMorgan, equity trading jumped 86% from a year ago to a record $6 billion. The equity underwriting group, which includes underwriting initial public offerings, earned fees from several of the quarter's biggest AI-related deals. That includes SpaceX's (SPCX) blockbuster IPO and Alphabet's (GOOG, GOOGL) even larger follow-on stock sale. Revenue from that unit jumped 78% to $829 million. Other giants, including Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), and Goldman Sachs (GS), also reported results Tuesday morning. JPMorgan's lending business remained a core profit engine in the period. Its net interest income rose 10% to $25.5 billion. The company also raised its full-year guidance for net interest income (excluding its Markets business) by $1.5 billion to $96.6 billion, according to an earnings presentation. Story Continues The bank's Main Street businesses showed US consumers remain in healthy conditions. Combined debit and credit card sales volume rose 10% from the year-ago period at its consumer bank. The company lowered the percentage of card loans it expects to write off this year to 3.2%, down from its 3.4% April projection. "We've talked about the consumer being fine, and I think relative to that, the consumer is maybe slightly better this quarter... the labor market remains quite resilient," JPMorgan CFO Jeremy Barnum said. "It's not a dramatic shift, but at the margin, I would say the consumer is a little bit stronger." David Hollerith covers a range of developments throughout the financial sector, from Wall Street to banking and asset management to crypto and fintech. Email him at david.hollerith@yahoofinance.com. Follow him on X at @DsHollers. Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance View Comments
JPMorgan notches highest quarterly profit in US banking history
The country's largest bank just raked in more quarterly profit than any US bank ever. JPMorgan Chase (JPM) said profits jumped 41% to $21.2 billion in its second quarter, or $7.70 per share, far exceeding the $5.64 per share analyst had expected. Total net revenue rose 28% to $57 billion, compared to $45 billion in the year-ago quarter. JPMorgan said a big profit boost came from a $4.6 billion net gain on the sale of Visa shares held by its corporate division. It noted another $1 billion of gains on certain equity investments. During its prior record quarter in 2024, JPMorgan also recognized gains related to its Visa shares. Without those one-time gains, the bank's net income of $16.9 billion would still have handily beaten the Street's expectations. "It's getting close to as good as it gets," CEO Jamie Dimon said when asked about the current banking environment during a Tuesday analyst call. "We're in a very healthy, active, exuberant market with very high prices and very high volumes. We benefit from that. We just don't know how long it will continue," he added. Dimon didn't shy away from pointing to the market's biggest risks, pointing to geopolitical tensions, wars, sticky inflation, and elevated asset prices. "We cannot predict how these forces will ultimately play out," he warned in the company's press release. "They can easily collide in a way that will surprise you," he added in a call with reporters. (JPM ) Go deeper with AlphaSpace 334.53 -1.94 (-0.58%) As of July 13 at 4:00:02 PM EDT. Market Open. JPMorgan's results kick off what analysts expect will be another strong earnings season for big banks. The industry has been buoyed by a resurgence in Wall Street activity, with its dealmaking and trading businesses benefiting from a swell in capital raising to fund the AI boom. For JPMorgan, equity trading jumped 86% from a year ago to a record $6 billion. The equity underwriting group, which includes underwriting initial public offerings, earned fees from several of the quarter's biggest AI-related deals. That includes SpaceX's (SPCX) blockbuster IPO and Alphabet's (GOOG, GOOGL) even larger follow-on stock sale. Revenue from that unit jumped 78% to $829 million. Other giants, including Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), and Goldman Sachs (GS), also reported results Tuesday morning. JPMorgan's lending business remained a core profit engine in the period. Its net interest income rose 10% to $25.5 billion. The company also raised its full-year guidance for net interest income (excluding its Markets business) by $1.5 billion to $96.6 billion, according to an earnings presentation. Story Continues The bank's Main Street businesses showed US consumers remain in healthy conditions. Combined debit and credit card sales volume rose 10% from the year-ago period at its consumer bank. The company lowered the percentage of card loans it expects to write off this year to 3.2%, down from its 3.4% April projection. "We've talked about the consumer being fine, and I think relative to that, the consumer is maybe slightly better this quarter... the labor market remains quite resilient," JPMorgan CFO Jeremy Barnum said. "It's not a dramatic shift, but at the margin, I would say the consumer is a little bit stronger." David Hollerith covers a range of developments throughout the financial sector, from Wall Street to banking and asset management to crypto and fintech. Email him at david.hollerith@yahoofinance.com. Follow him on X at @DsHollers. Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance View Comments
3 Russell 2000 Stocks We Keep Off Our Radar
3 Russell 2000 Stocks We Keep Off Our Radar Small-cap stocks in the Russell 2000 (^RUT) can be a goldmine for investors looking beyond the usual large-cap names. But with less stability and fewer resources than their bigger counterparts, these companies face steeper challenges in scaling their businesses. The high-risk, high-reward nature of the Russell 2000 makes stock selection critical, and we're here to guide you toward the right ones. Keeping that in mind, here are three Russell 2000 stocks to avoid and better alternatives to consider. Bloomin' Brands (BLMN) Market Cap: $722.6 million Owner of the iconic Australian-themed Outback Steakhouse, Bloomin' Brands (NASDAQ:BLMN) is a leading American restaurant company that owns and operates a portfolio of popular restaurant brands. Why Should You Sell BLMN? Lagging same-store sales over the past two years suggest it might have to change its pricing and marketing strategy to stimulate demand Sales are projected to be flat over the next 12 months and imply weak demand 6× net-debt-to-EBITDA ratio shows it's overleveraged and increases the probability of shareholder dilution if things turn unexpectedly At $8.45 per share, Bloomin' Brands trades at 10.1x forward P/E. Check out our free in-depth research report to learn more about why BLMN doesn't pass our bar. First Bancorp (FBNC) Market Cap: $2.66 billion Founded during the Great Depression in 1934 and originally known as Montgomery Bancorp, First Bancorp (NASDAQ:FBNC) is a community-oriented commercial bank providing a wide range of financial services to businesses and individuals in North and South Carolina. Why Do We Think Twice About FBNC? Muted 2% annual revenue growth over the last two years shows its demand lagged behind its banking peers Estimated net interest income growth of 4.4% for the next 12 months implies demand will slow from its five-year trend Incremental sales over the last two years were less profitable as its earnings per share were flat while its revenue grew First Bancorp is trading at $64.22 per share, or 1.6x forward P/B. Dive into our free research report to see why there are better opportunities than FBNC. Select Water Solutions (WTTR) Market Cap: $2.43 billion Managing over 24 billion barrels of produced water annually across major U.S. shale plays, Select Water Solutions (NYSE:WTTR) provides water sourcing, recycling, disposal, and treatment services for oil and gas producers. Why Does WTTR Worry Us? Revenue base of $1.40 billion puts it at a disadvantage compared to larger competitors exhibiting economies of scale Gross margin of 23.5% is below its competitors, leaving less money to invest in exploration and production Ability to fund investments or reward shareholders with increased buybacks or dividends is restricted by its weak free cash flow margin of 0.1% for the last five years Story Continues Select Water Solutions's stock price of $19.44 implies a valuation ratio of 38.1x forward P/E. Read our free research report to see why you should think twice about including WTTR in your portfolio, it's free. Stocks We Like More WHILE YOU'RE HERE: Top 9 Market-Beating Stocks. The best stocks don't just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses. But our AI platform says the party isn't over. Find out which 9 stocks made the cut this week — FREE. Get Our Top 9 Market-Beating Stocks for Free HERE. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today. View Comments
The Zacks Analyst Blog Highlights SAP, UBS Group, Cadence, Village Super Market and Medalist Diversified
For Immediate Release Chicago, IL – July 14, 2026 – Zacks.com announces the list of stocks and ETFs featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: SAP SE SAP, UBS Group AG UBS, Cadence Design Systems, Inc. CDNS, Village Super Market, Inc. VLGEA and Medalist Diversified, Inc. MDRR. Here are highlights from Tuesday's Analyst Blog: Top Research Reports for SAP, UBS and Cadence The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including SAP SE, UBS Group AG and Cadence Design Systems, Inc., as well as two micro-cap stocks Village Super Market, Inc. and Medalist Diversified, Inc. The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today's research reports here >>> Ahead of Wall Street The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning. You can read today's AWS here >>> Q2 Earnings & Inflation Numbers to Inform Trading Week Today's Featured Research Reports Shares of SAP have underperformed the Zacks Computer - Software industry over the past year (-46.6% vs. -27.5%). The Middle East conflict and broader macroeconomic and geopolitical uncertainty remain headwinds for the company. Despite these risks, it reaffirmed its full-year 2026 guidance, including 23-25% cloud revenue growth at cc to €25.8-€26.2 billion. Software support revenue is likely to decline faster as more customers shift to the cloud. Nevertheless, SAP's performance hinges on its high-growth cloud business, expanding margins, AI-driven differentiation and strong capital returns. Public cloud orders are gaining momentum, making up a major chunk of its quarterly volume, while SAP continued to gain market share against best-of-breed software vendors. SAP expects AI-driven consumption models to lead cloud revenue growth by 2030. Rapid uptake of Rise with SAP and Grow with SAP solutions is aiding sales while SAP Business AI, Business Data Cloud and Sovereign Cloud are gaining solid traction. (You can read the full research report on SAP here >>>) UBS' shares have outperformed the Zacks Banks - Foreign industry over the past year (+46.8% vs. +46.4%). The company's earnings surpassed estimates in all the trailing four quarters. After completing the migration of former Credit Suisse clients, it remains on track to complete the integration by 2026, targeting nearly $13.5 billion in gross cost savings. The strategic partnership with MSCI is expected to strengthen its private markets capabilities and client solutions. Net interest income (NII) growth and a strong capital position will support top-line growth. However, elevated digital infrastructure and integration costs remain a concern. Despite progress in resolving Credit Suisse's legacy issues, litigation and regulatory uncertainty may still pressure earnings. Its high debt/equity ratio raises concerns about capital distribution sustainability. (You can read the full research report on UBS here >>>) Shares of Cadence have outperformed the Zacks Computer - Software industry over the past year (+20.7% vs. -27.5%). The company's top line performance is benefiting from higher design complexity and rising customer spend on AI-driven automation. Amid rapid AI proliferation, the Cadence.ai portfolio has been gaining strength and the new product launches (like AgentStack along with ChipStack, ViraStack and InnoStack AI Super Agents) are expected to aid in sustaining the momentum. The hardware systems continue to gain traction from AI, HPC, robotics and automotive companies. The inorganic strategy is the calculated execution of its Intelligent System Design vision. Backlog stood at $8 billion. Management now expects 2026 revenues to be between $6.125-$6.225 billion compared with $5.3 billion in 2025. Offsetting these positives, the Hexagon D&E acquisition is expected to be dilutive to the 2026 bottom line. (You can read the full research report on Cadence here >>>) Village Super Market's shares have outperformed the Zacks Retail - Supermarkets industry over the past year (+20% vs. +17.5%). This microcap company with a market capitalization of $637.55 million sees its long-term outlook supported by a robust investment cycle focused on larger replacement stores, remodels, merchandising initiatives and technology upgrades that should expand selling capacity, improve productivity and sustain revenue growth. Healthy same-store sales, new store openings and continued expansion projects provide additional growth visibility. Strong operating cash flow enables the company to fund capital investments, reduce debt and maintain consistent dividend payments without relying heavily on external financing, while lower interest expenses and disciplined debt management further improve earnings quality and financial flexibility. However, risks include persistent margin pressure from higher promotional, warehouse, labor and operating costs, significant dependence on Wakefern for merchandise and services. The stock trades at a meaningful discount to peers on EV/sales. (You can read the full research report on Village Super Market here >>>) Shares of Medalist Diversified have gained +4.6% over the past year against the Zacks REIT and Equity Trust - Other industry's gain of +14.1%. This microcap company with a market capitalization of $18.25 million is transitioning from a traditional REIT to an asset-light DST sponsor, with fee income expected to replace property ownership as its primary earnings driver. The inaugural Tesla Pensacola DST validates the strategy, though monetization remains early and near-term results reflect launch costs rather than recurring fees. Asset sales have strengthened liquidity, reduced debt and improved flexibility, while the remaining portfolio is concentrated in high-occupancy, net-lease assets with strong tenant credit profiles. Yet execution risk remains elevated until DST fundraising scales and fee income become recurring. Dividend sustainability depends on improving operating cash flow rather than one-time asset gains. The valuation suggests investors remain skeptical of the transition, leaving meaningful upside if MDRR successfully scales recurring DST fee income. (You can read the full research report on Medalist Diversified here >>>) Story Continues Free: Instant Access to Zacks' Market-Crushing Strategies Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year. Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached. Get all the details here >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UBS Group AG (UBS) : Free Stock Analysis Report SAP SE (SAP) : Free Stock Analysis Report Cadence Design Systems, Inc. (CDNS) : Free Stock Analysis Report Village Super Market, Inc. (VLGEA): Free Stock Analysis Report Medalist Diversified REIT, Inc. (MDRR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments